AFH 2017 Annual

The Board of AFH, a leading financial planning led wealth management firm, today announces the Group's consolidated audited results for the period ending 31 October 2017 reflecting continued growth, an increase in earnings per share of 57% and a 33% increase in dividend per share.

Strong organic growth delivered through captive distribution model

  • Revenues up 39% to £33.6 million (2016: £24.1 million)
  • Underlying* EBITDA up 57% to £5.7 million (2016: £3.6 million)
  • Underlying* EBITDA margin increased to 17% from 15%
  • Profit after tax up 83% to £3.1 million (2016: £1.7 million)
  • Earnings per share up 57% to 11.22 pence (2016: 7.16 pence)
  • Underlying* Earnings per share up 46% to 17.0 pence (2016: 11.6 pence)
  • Dividend per share up 33% to 4.0 pence (2016: 3.0 pence)
  • Funds under Management up 39% to £2.79 billion (2016: £2.0 billion)

*Underlying excludes amortisation of intangible assets arising on business combinations and the non-cash charge/credit for share based payment costs.

Significant growth potential

  • Increasing organic demand for financial planning led wealth management services
  • Proven track record of successful acquisitions: The average deferred pay-out for those acquisitions reaching a performance milestone exceeded 90% of the target deferred consideration during 2017
  • AFH well positioned to continue to take advantage of ongoing IFA market consolidation
  • Strong balance sheet following successful £17.5 million placing completed in December 2017

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