Lighthouse Group PLC – Final Results

Lighthouse Group PLC – Final Results

Lighthouse Group plc (AIM: LGT), the national financial advisory group, today announces its final audited results for the year ended 31 December 2018.

Financial Highlights

  • Underlying EBITDA* up 7 per cent. to £3.42 million (2017: £3.19 million);
  • Profit before tax up 5 per cent. to £2.64 million (2017: £2.52 million)
  • Revenues £53.42 million (2017: £54.11 million);
  • Average annualised revenue production per adviser maintained at record level of £122,000 from 2017;
  • Recurring revenues generated from clients up 10 per cent. to £26.77 million (2017: £24.39 million);
  • Interim dividend of 0.20 pence per share (2017: 0.12 pence per share) paid and final dividend of 0.50 pence per share proposed (2017: 0.30 pence per share) – a year on year increase for the full year of 67 per cent.;
  • Cash balances up £0.8 million or 8 per cent. to £9.55 million (2017: £8.73 million) after investment in Tavistock Investments plc of £1 million and dividend payments of £0.64 million (2017: £0.38 million);
  • Operating cash flow generation £2.87 million after investment of £0.55 million in customer solution development (2017: £1.38 million after £0.84 million investment expensed).

Operational Highlights

  • 23 affinity contracts now in place (2017: 21) with 2 new wins and 10 other contracts renewed;
  • Strategic agreement with  and investment of £1 million for 5.3 per cent. stake in Tavistock Investments plc as part of long-term relationship.

Post year end events

Completion of the strategic review of the Lighthouse Pensions Trust resulting in an exit from that business via a proposed transfer to Smart Pension Limited.

* Earnings before interest, tax, depreciation and amortisation and non-cash share-based payment charge.

Commenting on the results, Richard Last, Chairman of Lighthouse Group plc, said: “Lighthouse has continued to progress its strategy in 2018 despite softening market conditions in the second half of the year and has delivered an excellent set of results alongside a number of strategic initiatives. The substantial rise in recurring revenues together with maintenance of the record average annualised revenue per adviser, along with a reduction in operating costs flowing from the Group’s continuing focus on providing good customer outcomes, resulted in a further increase in earnings. Lighthouse remain well positioned to deliver further growth notwithstanding current market uncertainty.”

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