Revenue increases 80% for Frenkel Topping in 2021

Revenue rose 80% (year-on-year) to £18.4m at financial consultancy Frenkel Topping for the year ending December 31, 2021.

Profit (adjusted EBITDA) also increased by 84% to £4.6 million.

Pre-tax profit rose 80% to £2.7m.

The financial advisory firm’s recurring revenue rose 22% to £8.9m.

Total assets rose by a third (33%) to end the year at £37.8 million.

Assets under discretionary mandate increased by 28% to £676m (202: £527m).

Frenkel Topping said the three acquisitions made in the past year, A&M Bacon, Partners in Costs and Bidwell Henderson, are now all fully integrated into the business.

The financial advisory firm added that its latest acquisition of Cardinal Management, announced in January, is working and integrating as expected.

Richard Fraser, CEO of Frenkel Topping, said: “Our 2021 results demonstrate the cumulative impact of clear business objectives, a focused acquisition strategy focused on acquiring complementary, high-quality businesses with aligned values , and a desire to deliver the best possible results for our underlying customers. We have developed a market-leading platform from which to offer a greater range of services to people who have suffered serious and often life-changing injuries.

“Despite continued uncertainty in the geopolitical and macro environment, we achieved an 84% increase in Adjusted EBITDA and 80% increase in pre-tax profit. 16% in AUM and 28% in assets on a discretionary mandate. Our rate customer retention remained high at an impressive 99%, reflecting our customers’ confidence in us to manage their money prudently and drive returns.”

Basic earnings per share rose 72% to 2.23p and Frenkel Topping said it expects to pay total dividends for the year of 1.36p per share.

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