14th Sep 2015 08:26
LONDON (Alliance News) - Lighthouse Group PLC, a financial advice company listed on London's AIM, on Monday reported higher earnings in the first half, bolstered by improved revenue per adviser and better margins.
In a statement, Lighthouse said it made a GBP359,000 pretax profit in the six months ended June 30, compared with the GBP88,000 reported in the corresponding half the prior year.
Chairman Richard Last said that earnings before interest, tax, depreciation and amortisation rose by two-thirds to GBP723,000 on higher average revenue per adviser and improved gross margins.
"The group is well placed to meet its market estimate for the full year, notwithstanding recent market fluctuations," Last said.
The company raised its interim dividend per share to 0.08 pence from 0.06p.
"With a strong balance sheet and net cash reserves of GBP6.9 million, the group is well placed to take advantage of the opportunities available to it, particularly in the auto-enrolment and workplace solutions space, whilst dealing with increased regulatory costs and an uncertain general economic outlook," Last said.
Lighthouse shares were untraded at 7.60 pence on Monday morning in London.
By Samuel Agini; [email protected]; @samuelagini
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