New business pushes Frenkel Topping ahead
FRENKEL Topping said its full-year figures will beat expectations after an “excellent year” of new business.
The Manchester firm provides specialist investment advice to people who have received major personal injury or clinical negligence awards.
During the year the value of funds in its investment management service exceeded £500m and it also expects to see margin growth.
Chairman David Southworth said: “The board is pleased to confirm that the company’s results for the full year are expected to be ahead of market expectations.
“The group made considerable progress during the year, having successfully prepared for the legal reforms and considerable changes to benefits entitlement which occurred in 2013, as well as growing the funds in the investment management service to over £500m.”
Earlier in the month the company launched an incentive scheme for directors which would let them have a share in any proceeds from the sale of the business.
At the lower end, they would receive 1% of a sale at £25m-£27m but 9% if the business was sold for more than £38m. Based on yesterday’s share price of 40p the company has a market value of £25.2m.
