Full year pre-tax profit rose 21 per cent at independent financial advisory group Frenkel Topping underpinned by strong growth in the group's investment management services.
Profit before tax increased to £1.03m in the year ended December 31st from £0.85m one year earlier, while revenue jumped 5.0% to £4.78m from £4.57m a year earlier.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The group said that its strategy of driving organic growth and ensuring maximum client retention had resulted in the total funds in investment management services (FIMS) increasing by 16% to £483m from £416m in 2011.
The group also implemented a new technology platform and administration software solution to provide clients with increased access to fund management products that it said would not otherwise have been available to them.
Basic earnings per ordinary share contracted slightly to 1.09p from 1.11p a year earlier and basic diluted earnings per ordinary share were unchanged from a year ago at 1.05p.
The group said it would be recommending an increased dividend payment of £188,875, almost twice the value in 2011 - which was £100,000-, representing 0.3p per share. This compared to 0.176p per share in 2011 for the period, which was covered 3.6 times by earnings.
The proposed dividend is subject to shareholder approval at an AGM scheduled for May 29th and the group said, if approved, it would be paid on June 7th to shareholders on the register at close of business on April 19th.
David Southworth, Chairman of Frenkel Topping, commented: "The group's strategy for further growth remains to focus on driving organic growth and client retention. The board is confident about the future for Frenkel Topping, and this confidence is reflected in the increased dividend for the period."
MF
-
Football fans issued warning over ticket scams ahead of 2026 World CupSantander customers lost more to football scams in the first six months of 2025 compared to the same period in 2024, when total losses surged due to the Euros
-
Nationwide fined £44 million over “inadequate” anti-money laundering systemsFailings in Nationwide’s financial crime processes between October 2016 to July 2021 meant one criminal was able to deposit £26 million from fraudulent Covid furlough payments in just eight days.
