Consolidator firm AFH saw post-tax profit rise by more than four-fifths (83%) and revenues increase by nearly two-fifths (39%) in 2017 after making 14 acquisitions last year.
In its annual results to the end of 31 October 2017, AFH saw profits almost double to £3.1m from £1.7m in 2016, while revenues rose to £33.6m from £24.1m. The firm's funds under management grew by nearly two-fifths (39%), up from £2bn to £2.69bn in 2017. Earnings per share increased by nearly three-fifths (57%) to 11.22p, while the dividend per share rose by a third (33%) to 4p. Of the 14 acquisitions totalling £18.7m that AFH completed in 2017, two were worth a target value in excess of £5m. All but one of the acquired businesses encompassed retiring IFAs, whose client portfolios ...
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