Kingswood UK operating profit up 80% to £11m in 2022

Trading statement for the year ended 31 December 2022

Jenna Brown
clock • 2 min read

The UK division of consolidator Kingswood reported an 80% increase in operating profit to £11m last year, according to its latest trading statement.

It said the UK division performed strongly "reflecting rapid growth in the business". Earlier this month it confirmed it was in talks about the potential sale of the UK business. UK revenue stood at about £33.8m, up 54% year on-year. The statement added that 87% of the UK operation's revenue was recurring "providing a strong, annuity-style fee stream". The firm explained that the rise in operating profit was driven by its acquisitions and was underpinned by "careful cost management". It completed ten buyouts in the UK last year, adding £1.7bn in assets under administration, 28 adviser...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

Tavistock to take fintech focus amid 'significant strategic realignment'

Tavistock to take fintech focus amid 'significant strategic realignment'

Sets out ‘extensive but appropriate’ use of AI

Isabel Baxter
clock 23 December 2025 • 3 min read
Advice AI start-up Avenir to close operations

Advice AI start-up Avenir to close operations

Co-founder Andrea MacDonald will be joining Saturn

Isabel Baxter
clock 23 December 2025 • 2 min read
MWA Financial acquires Midlands advice firm

MWA Financial acquires Midlands advice firm

Snaps up Stonewood Financial Planning

Isabel Baxter
clock 18 December 2025 • 2 min read