Strong first half for Frenkel Topping

FRENKEL Topping has enjoyed a strong six months, with earnings and funds under management increasing.

The Manchester firm provides specialist investment advice to people who have received major personal injury or clinical negligence awards.

In the six months to June 30 the business saw pre-tax profits jump 13% to 652,745 on revenues of £2.7m, up 4%.

During the year the value of funds in its investment management service grew 12% to £584m.

Chairman David Southworth said: “The group is delighted to report another excellent set of results in which the Company has significantly increased profit before tax and substantially improved profit from operations by 20%. Assets under management continue to grow and are currently nearly £600m. The group has again maintained its 99% client retention rate.

“Frenkel Topping’s strategy is to maintain this organic growth and to build on its strength in supporting litigation professionals. The group remains in a robust financial position and continues to deliver profitable growth. Consequently, the company intends to increase future dividends in-line with increases in profits in the coming years, thereby maximising shareholder value.”

Frenkel Topping is paying a maiden interim dividend of 0.17 pence per share.