2nd Apr 2019 11:47
LONDON (Alliance News) - Nucleus Financial Group PLC on Tuesday said it remains positive for the year ahead as it reported double digit profit growth for 2018.
The investment platform developer said annual pretax profit grew by 10% to GBP5.7 million from GBP5.1 million a year prior, as revenue increased by 8.7% to GBP49.4 million from GBP45.5 million.
As at December 31, assets under administration stood at GBP13.9 million, up 2.3% from GBP13.6 million the year before.
Nucleus declared a final dividend of 3.9 pence a share, down 18% from 4.8p paid in 2017.
"It was also pleasing to see growth across most of our key performance indicators in the year, including growth in assets under administration, revenue, profit, customers, accounts and advisers using the platform," said Founder & Chief Executive David Ferguson.
"Despite the sector headwinds in the latter half of the year, we view the market outlook as positive for better quality advisers and those that provide services to those advisers and we are confident in our ability to deliver on our future plans," added Ferguson.
Nucleus shares were trading 2.3% higher on Tuesday at 176.00 pence each.
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