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Lighthouse Group revenues jump 11 per cent

Lighthouse Group has posted pre-tax profits of £117,000 for the first half of 2010.

The return marks a 108 per cent increase from the £56,000 made in the first half of 2009. Lighthouse Group has also posted an 11 per cent increase in revenues to £32.6m for the first six months of 2010.

The group also saw recurring revenues jump almost 20 per cent while gross profits were up from £8.65m to £8.9m.

Lighthouse Group recently completed the sale of its City Trustee’s business for £1.85m in August. The group says it is to pay a 0.12p per share interim dividend in October.

Lighthouse Group chairman David Hickey says: “Trading progressed steadily during the period. The proportion of recurring revenues now exceeds 25 per cent of the total and continues to rise, and the Group’s operations continue to generate cash.

“The balance sheet is extremely strong with substantial cash deposits.  With financial strength becoming a key differentiator in this industry, the Board remains confident of further progress during the remainder of the year and beyond.”

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