Adviser firms deliver £1m profits to Honister Capital

Sage Financial Services, Burns-Anderson and Honister Partners (formerly Bates Investment Services) delivered £1.022m profit, with direct-to-consumer proposition Willis Owen contributing £1.17m, in the six month period to 31 March. The company also has a positive cash balance of £12.5m and says it is free of bank debt, even returning £0.7m of unused short term borrowing facilities. This follows positive figures for the group's first three months' trading last year, in which Honister made an operating profit of £1.5m with £1m coming via the advice businesses. Honister Capital was lau...