Lighthouse boosts profits as recurring income hits 27%

Revenue climbed £6.3m last year to £60.7m while gross profits advanced £1.9m to £17.3m. Elsewhere, EBITDA almost doubled to £1.08m from £553,000 in 2008. Executive chairman David Hickey adds the group is "well positioned" for 2010 after boosting cash balances 9% to £13.4m. In a drive to improve what it calls "quality of earnings" last year, Lighthouse says recurring revenue now represents 27% of income, having risen £1.1m to £13.4m. Hickey says the business has successfully integrated Godfrey Pearson, the 50-strong IFA business it acquired for £1.9m in January last year. This follo...