Financial advisory group on expansion track after breaking £20m revenue mark

Sedulo Group, the Manchester-based financial advisory business, has recorded annual increases in its revenues and EBITDA, although pre-tax profits have fallen.

During the year to October 31, 2024, the group, which has offices in Manchester, Liverpool, Leeds, Birmingham and London, reported consolidated revenues of £20.6m, 37% ahead of the previous year’s figure of circa £15m.

The EBITDA for the same period was £2.9m, a 45% increase on the previous year’s result. The current run rate of the company is closer to £23m of fees.

However, pre-tax profits fell from £1.33m in 2023, to £10.2m in the latest financial year.

The main growth areas within the firm were within Tax Incentives, Financial Planning, Debt Funding and Deal Advisory services.

The figures are on the back of a strategy set in 2023 to double in size by 2026 and the organisation says it is firmly on track.

In 2024, the firm’s headcount increased from 175 to 215, with the Deal Advisory side growing significantly after Logan Rowan’s recruitment earlier in the year – as a result, the Transaction Services team had a record year.

During the year, Sedulo acquired an R and D specialist and opened its fifth office, in Birmingham, while introducing a capital allowance and energy tax relief offering to the tax incentives scheme.

Founder, Paul Cheetham-Karcz, said: “The year end results are a great achievement and in line with a strategy towards a £30m business in the next couple of years.

“They are testament to the dedication and commitment of the team we have built here, which is the secret behind our success.”

He added: “There is a real opportunity in our market space to be the largest founder-led, independently-owned, boutique advisory firm in the UK. We intend to own that space.

“The recent recruits have senior national expertise in some of the largest consultancy firms.

“Bringing them into our organisation and deploying them in our local territories gives us a real advantage over our competitors. It really is high level, world class teams delivering holistic business advisory services locally to our client base.

“We look forward to the next 12 months, which should see us edge towards £25m in revenue whilst investigating the opening of a further strategic office.“