Cash rich Lighthouse Group is set to take advantage of the current market turmoil to acquire quality financial advice firms.
The group announced its interim results for the six months to the end of June 2008, reporting revenues of £25.5m, an increase in cash balances of 61pc to £12.3m and recurring revenues of £4.2m. The figures reflect the merger between Lighthouse and Sumus into Lighthouse Group in May 2008. The group also announced its maiden dividend payment of 0.2p per share. This dividend and the high capitalisation showed the strong position of Lighthouse Group in the market, said chairman David Hickey and gave it the opportunity to buy adviser firms looking for stability in shrinking markets. "There...
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