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IFA consolidator reports £610k profit

AFH Alan Hudson 700

AFH Financial has posted a pre-tax profit of £610,000 for the first half of the year, up 13 per cent from £540,000 at the same time last year.

In March the firm reported full-year profits sliding from £1.05m to £861,000 off the back of costs generated by its Aim listing in June 2014.

The news comes days after the firm completed its eleventh and twelfth acquisitions since it listed.

Seven of those acquisitions were completed in H1 for a total of £9.4m.

Administrative expenses rose 22 per cent from £3.1m to £3.8m following investment in the firm’s head office.

AFH group chief executive Alan Hudson says: “The group remains profitable and cash generative with a strong balance sheet for its current size.

“Our strategy remains to expand nationally in our traditional areas of strength through both organic and acquisitive growth to drive increased profitability. The directors continue to actively seek appropriately priced acquisition opportunities with a comparable culture to AFH to generate incremental opportunities for the group.”


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Consolidator AFH Financial has acquired two advice firms in deals worth a total of £1.1m. AFH will pay up to £585,000 for Quest Financial Management, which has been acquired for an initial cash payment of £292,500. The remainder is payable over the next two years dependent on performance. Quest’s two advisers left the firm on […]

AFH Alan Hudson 700

AFH Financial share placing raises £750k

AFH Financial has raised £750,000 through a share placing to fund further acquisitions. The advice firm has placed 535,716 new ordinary shares of 10 pence each at 140 pence per share. The placing shares will represent 2.7 per cent of the company’s enlarged ordinary share capital. AFH says the proceeds will be used to continue […]

AFH Alan Hudson 700

AFH profits hit by costs of listing on Aim

IFA consolidator AFH Financial Group saw pre-tax profits fall 18 per cent over the year from £1.05m to £861,000 due to the costs of listing on Aim last June. The company incurred admin expenses of £6.8m in the year to 31 October related to listing costs, with £197,000 of this written off during the year. […]

AFH Alan Hudson 700

AFH acquires national IFA in £4.1m deal

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