Nucleus eyes break-even despite £1.7m operating loss

The period up to December 31 saw assets under administration surge to £2.2bn and revenue nearly double from £2.4m to £5.6m in a year which saw the Edinburgh-based wrap become debt free following completion of a £15m rights issue. Operating loss also reduced 15% from £2m to £1.7m as the wrap invested heavily in operational infrastructure whilst taking on key personnel. Overall, the platform posted a loss of £3.1m which was largely due to debt financing. But Ferguson (pictured) points out "debt is no longer a feature of the business" following completion of its rights issue. He adds ...