Honister Capital made an operating profit of £1.5m between June and the close of its financial year on September 30 last year.
Honister says £1m of its profits came from the advice businesses and £500,000 from direct-to-consumer business Willis Owen.
Honister generated revenues of £30.4m.
Honister Capital was formed last June after Money Portal was placed in administration with debts of over £52m. TMP subsidiaries Sage, Burns Anderson and Willis Owen continued to trade under the Honister Capital umbrella but its national arm Bates was placed in administration, with advisers transferring to new entity Honister Partners.
The firm is backed by Monsoon founder Peter Simon, has no bank debt and had an overall cash balance of £11.3m at December 31. It has around 1,400 advisers, 100 fewer than Money Portal did in June.
In the 12 months to September 30, Burns Anderson made an operating profit of £300,000 on a turnover of £30.9m while Sage Financial made £1.3m on £28.3m turnover. Willis Owen, with a margin of 98.7 per cent, made an operating profit of £2.1m on £2.7m revenue.
Chief executive Mark Lund says: “This is a strong start for our new company, especially when we consider the wider economic environment.
With the new group bedded down, we are well placed operationally and financially. Our priorities are threefold. We must get ready for the retail distribution review, continue to give the best possible service to our advisers and business principals and structure the group so it can accommodate independent and restricted advisers.”