Lighthouse reports £2.7m loss on network closure charges

An increase in earnings to £1.6m, from £1.3m in 2010, helped the business to a gross profit of £15.6m last year. This was marginally down on the £15.7m recorded in 2010. However, non-recurring expenses have pushed the group to a heavy loss. It has effectively wound down two Sumus sub-groups - network Falcon and Scottish advice group FSAS - so it can operate as a single regulated entity: Lighthouse Advisory Services. Lighthouse had previously announced it had voluntarily recognised a non-recurring charge of £2.93m relating to "certain aspects" of Falcon's historical trading. It said...