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Nucleus reports 26% surge in Q3 operating profit

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Nucleus has seen its operating profits climb from £1.9m to £2.4m for the third quarter of 2015.

The improvement represents an increase of 26 per cent, although including a £1.2m one-off credit operating profits rose by almost 90 per cent to £3.6m

Gross inflows for the quarter reached £1.54bn, up by four per cent on a year-on-year basis from £1.48bn.

Assets under administrations increased 16 per cent to £8.7bn, up from £7.5bn, while turnover increased 30 per cent from £17.2m to £22.3m.

Nucleus chief executive David Ferguson says: “Our latest set of financial results shows continued forward and steady momentum and we are on track to end 2015 in a better than ever financial position.

“This is particularly pleasing given the last year or so has seen us transition our underlying technology; materially strengthen our senior team and agree a new back office administration contract.”

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