View more on these topics

Cofunds announces pre-tax profits of £7.9m

Cofunds has announced pre-tax profits of £7.9m for 2010 compared to £0.1m  in 2009.

The firm saw a 33.5 per cent increase in assets under administration from £22.7bn to £30.3bn.

Turnover increased 36 per cent to £61.3m compared to £45.2m in 2009. Profit after tax reached £20.2m due to a £12.3m tax credit.

Cofunds interim chief executive Charlie Eppinger says: “2010 was a terrific and very profitable year. The results show an accumulation and the figures in 2010 were very good because the five years previous were very good.”

The firm expects incoming chief executive Martin Davis (pictured) to take up his new role on July 1.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com