Lighthouse narrows losses but remains in the red

Lighthouse reported a loss of £4.6m in 2012, from a loss of £2.7m in 2011. An impairment charge of £3.9m against the value of its network arm Lighthouse Advisory Services was a major contributor to the loss. In 2013 Lighthouse went some way to pare back those losses, but a further provision of £310,000 for client redress costs and falling revenue due to a reduction in adviser numbers kept it in the red. Group revenues reduced by 13% to £48m in comparison with 2012 went it was £55m. This was primarily as a result of the 17% reduction in average adviser numbers following the revis...