Pension and wealth management consultancy specialist Mattioli Woods said full year revenue rose by a third while while wealth management revenues increased by nearly 50 per cent.
The group, which provides financial advice to professionals, said revenue rose 33.3% to £20.48m for the year ended 31 May 2012 of which recurring revenues represent 63.2% compared to 67.5% in 2011. Assets under administration and advice rose 31.3% to £3.02bn.
The figures include £4.27m revenue from last year's acquisition of employee benefit and wealth management specialist Kudos.
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Wealth management revenues rose to £6.62m during the year up nearly 50% from the previous year. The group said it would provide restricted advice on its SIPP and bespoke investment products and may give restricted advice in other product areas.
Adjusted pre-tax profit rose to £5.06m during the year from £4.95m previously. Adjusted EPS rose to 22.02p from 21.17p.
Executive Chairman Bob Woods said he was pleased with the group's strong progress with both organic and acquired growth despite challenging economic conditions.
"I believe the group is now better-positioned than ever to compete in the post-RDR world and we will continue investing in the business to secure further profitable growth, underpinned by strong recurring revenues," he said.
Mattioli Woods has proposed a total dividend of 5.55p from 4.95p in 2011.
The IFA and Sipp provider said its financial position is strong with net cash at period end of £5.14m compared to £4.61m the year before.
CJ
