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Harwood Wealth Mgmt (HW.)

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Thursday 16 November, 2017

Harwood Wealth Mgmt

Trading Update

RNS Number : 6463W
Harwood Wealth Management Group PLC
16 November 2017
 

16 November 2017

Harwood Wealth Management Group

("HWMG" or "The Group")

 

Trading Update

for the year ended 31 October 2017

 

Harwood Wealth Management Group (AIM: HW.), a leading UK-based financial planning and discretionary wealth management business, is pleased to report that, following the close of its financial year ended 31 October 2017, it expects to report revenue and adjusted EBITDA performance for the full year ahead of market expectations. The Company will report its audited full year results on 23 January 2018.

 

This performance has been driven by a mix of organic and acquired growth, in line with the Company's stated strategy as well as growth in market value. During the financial year just ended seven acquisitions were completed for an aggregate consideration of £2.9 million. Cash as at 31 October 2017 stood at £19.0 million, which reflects new acquisitions made during the year and deferred considerations for acquisitions from previous periods, balanced by the highly cash generative nature of the Company.

 

Peter Mann, Chairman of Harwood Wealth Management, stated:

 

"I'm delighted to report on a very successful year for Harwood Wealth Management as the Company continues to deliver its focused, stated strategy. The market continues to be highly fragmented and, as we start the new financial year, the opportunity for further value creating acquisitions remains strong."

 

For further information please contact:

 

Harwood Wealth Management Group plc

Neil Dunkley, Joint Chief Executive Officer

Alan Durrant, Joint Chief Executive Officer

 

+44 (0)23 9355 2004

N+1 Singer Advisory LLP

Alex Price / Alex Laughton-Scott

 

+44 (0)20 7496 3000

Alma PR

Josh Royston / Rebecca Sanders-Hewett / Susie Hudson

+44 (0)20 8004 4218

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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