Harwood Wealth Management expects to report earnings before tax, depreciation and amortisation (Ebitda) ‘comfortably ahead’ of market expectations.
The wealth consolidator, which has made nine acquisitions this year at the cost of £10.7 million, has £13.6 million in cash in the bank. In a brief trading update this morning, the wealth manager said that it expects to report ‘strong revenue growth which is broadly in line with market expectations’ for its financial year, which ended on 31 October. The company is due to report its full-year results on 23 January 2019.
Harwood Wealth Management chairman Peter Mann (pictured) said: ‘I am very pleased to report another successful year for the group, with strong revenue growth and an Ebitda performance which is comfortably ahead of market expectations.
‘This performance demonstrates the robustness of the business underpinned by a strong operating model, and we look forward to continuing to drive growth going forward.’