BROMSGROVE firm AFH Financial Group is celebrating after revealing a massive 177 per cent profits rise for the first half of the 2017 to 2018 financial year, writes Neil Gordon.
The Stoke Heath based company revealed that compared to April 2017 revenue was up 63 per cent to £22.7million, profit after tax was up 177 per cent to £2.5million and that funds under management had risen by 40 per cent to £3.2billion.
New funds have been invested at a rate of £35million-a-month.
The figures, which outline the group’s performance to April 30, 2018, show company reserves of more than £23.7million, against a regulatory requirement of £2.5million, and that the group remains free of bank or secured debt.
AFH chief executive, Alan Hudson, said: “These results are further vindication of our strategy to generate long-term value for shareholders by providing exceptional value and service to our clients and using our increasing size to drive down platform and fund management changes.”
