Lighthouse Group plc (AIM: LGT), the national financial advisory group, today announces its interim results for the six months ended 30 June 2018.
- Revenues for the six months to 30 June 2018 increased by 5 per cent. to £26.88 million (H1 2017: £25.67 million);
- Average annualised revenue production per adviser increased by 6 per cent. to £124,000 (H1 2017: £117,000);
- Other operating expenses reduced by 3 per cent. to £5.54 million (H1 2017: £5.68 million);
- Underlying EBITDA* increased by 26 per cent. to £1.65 million (H1 2017: £1.31 million);
- Pre-tax profits increased by 12 per cent. to £1.26 million (H1 2017: £1.13 million);
- Basic earnings per share increased by 13 per cent. to 0.99 pence per share (H1 2017: 0.88 pence per share);
- Net cash balances £9.6 million (31 December 2017: £8.7 million, 30 June 2017: £8.1 million);
- Interim dividend declared of 0.20 pence per share, an increase of 67 per cent. (H1 2017: 0.12 pence per share); and
- Affinity contracts renewed with the General Federation of Trades Unions, Parliament Hill, the Royal College of Nursing, the Public and Commercial Services Union, the Money Advice Service and
- FosterTalk and extended for mortgage and protection services for Unison during the period. Since 30 June 2018 contracts with Prospect union and the Association of School and College Leaders have been renewed.
*Earnings Before Interest, Tax, Depreciation and Amortisation and non-cash share-based payments charge
Commenting on the results, Richard Last, Chairman of Lighthouse Group plc, said: “The unaudited results for the six months ended 30 June 2018 illustrate the continued progression of the Group’s activities, with underlying EBITDA (before non-cash share-based charges) for the six months increasing by 26 per cent. to £1.65million. Continued progress in the Group’s affinity operations and in developing proprietary financial products for both the individual and corporate markets is expected to contribute to future growth in profits.”