Perspective stems losses in 2010 as buys pay off

Allowing for acquisition costs, interest, amortisation and depreciation, the IFA consolidator made a net pre-tax loss of £584,000, an improvement on the £1.68m loss in 2009. Profitability increased at the group which reported a 138% increase in earnings before interest, tax depreciation and amortisation (EBITDA) to £3.1m. This was from revenues of £13.3m, up from £7.7m in 2009. Perspective reported end-of-2010 assets under management of £1.81bn, up from £0.86bn in 2009, while its cash reserves stood at £6.05m, with unused bank facilities of £3.5m. Damian Keeling, managing director ...