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Threesixty posts £195k profit after taking £150k Timebank stake

Support services provider Threesixty Services has posted a £195,000 pre-tax profit for the year ending 31 December 2013, a rise of 2 per cent from £192,000 in 2012.

The firm’s accounts show that Threesixty paid £150,000 for a 25 per cent stake in paraplanning firm The Timebank.

The firm’s total turnover rose 8 per cent to £5.5m, up from £5.1m in 2012 while administrative expenses reached £4.1m, up 6 per cent from the previous year.

The firm paid out bonuses of some £536,000 during the year, encompassing all sales bonuses paid and bonuses to all senior staff.

Managing director Phil Young says: “We’ve had another steady year as we continue to invest in the business. In 2013 we fully launched our services to the DFM market, and started work on three significant technology developments which all complete in 2014.”

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