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Kingswood narrows H1 losses amid boost from acquisitions, US growth

Fri, 24th Sep 2021

Wealth management company Kingswood reported narrower losses as revenue was boosted by the contribution of acquisitions and growth in the US. For the first half of 2021, pre-tax losses narrowed to £3.7 million from £6.1 million as revenue jumped 646% to £61.5 million. Revenue growth reflected 'the impact of acquisitions and growth in the US,' the company said. 'US revenues of £50.9 million performed well mainly from EF Hutton investment banking services which benefitted from strong capital market activity,' the company said. The UK wealth management and investment management division delivered £10.6 million revenue for the half. Story provided by StockMarketWire.com

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