Perspective hungry for more as H1 earnings rise
FAST-growing financial advisory group Persective, has reported strong first half trading and revealed plans to more than double in size.
The Wilmslow-based company, which provides investment and financial planning services to individuals and businesses through more than 24 offices around the country, is in the early stages of a process to find a new investment partner to fund its growth aspirations.
It has been backed since its launch in 2008 by Manchester-based Mosaic Private Equity, which owns around 43% of the business.
Perspective’s results for the six months up to June 30 reveal a 25% increase in net ebitda to £2.535m. Total revenues were up 13.2% to £9.95m. Assets under influence have also grown to £2.4bn, up 24.8% on the first six months of 2011.
During the first half Perspective acquired four new advisory firms and now has a total of 24 offices and 235 staff across the country.
Group operations director Peter Craddock said the interim figures revealed the “ongoing strength” of the business.
“The ebitda figures are particularly pleasing, to the extent that we have an enviable ebitda margin, especially when compared to the vast majority of our peers operating in the market today.
“The outlook for 2012 is extremely positive given that traditionally our second six months of the year are stronger than the first. To that end we are forecasting total revenue of approximately £23m for the entire year.”
Mr Craddock said Perspective remains keen to expand through acquisition and also through its existing offices.
“I see this business doubling assets under management, growing to 50 offices and hitting revenue circa-£50m over the next few years, ” he added.
He said the company is well-prepared for next year’s changes in the way financial advice is provided under the Financial Services Authority’s Retail Distribution Review.
