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LEBC eyes expansion after profits leap by 84%

National IFA LEBC Group nearly doubled its profits to £314,000 in the year to May from £171,000 the previous year.

The firm, which launched in June 2000, headed by former Towry Law-owned Advizas advisers, saw a 19 per cent rise in turnover to £5.1m from £4.3m.

LEBC says it hopes to increase its number of RIs from 36 to 50 by the end of the year across nine regional offices.

The firm, which recently opened a City office in Leadenhall Street, says it sees London as one of the main target areas for its recruitment drive.

Managing director Nigel Stallworthy says: “These are excellent results in very difficult trading conditions. We are now firmly established and are continuing our expansion. We have now grown from 18 consultants at launch to 36 and are still looking to recruit, with a target of 50 consultants in the near future as long as we can find the right people.”

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