IFA firm AFH targeting more acquisitions as profits rise

The Midlands-based business, which has over 50 IFAs, increased its earnings before interest, taxes, depreciation and amortisation (EBITDA) to £416,094, up 103% from the same period in 2010. Meanwhile, profit on ordinary activities before tax increased from £167,072 to £329,813. This came from revenues of £2,582,051, up 27% on the previous year, while the company revealed it increased its recurring income by 68%. The company, which has since floated onto the PLUS-quoted Market, also increased its number of advisers by 18%. Alan Hudson, chairman and CEO of AFH, said: "The consider...