Titan Wealth losses widen to £44.7m following acquisition costs

For the year ended 31 March 2024, the firm saw its losses rise by 78%, which came "primarily from loan interest, amortisation and ongoing integration costs linked to the acquisitions". The group reported a total comprehensive loss for the year of £44.8m It reported revenues of £77.4m, up 44% on the previous year. Adjusted EBITDA was £31.9m, up from £23.9m in 2023, while statutory EBITDA was £7.4m, down from £16.5m in the previous year. During the year ended 31 March 2023, the group borrowed £17m from its lenders, titled as the acquisition facility, against which principal repaym...