Harwood Wealth Management Group (HW.)

Sector:

Financials

Index:

FTSE AIM All-Share

 160.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 160.00
  • 52 Week Low: 115.00
  • Currency: UK Pounds
  • Shares Issued: 62.54m
  • Volume: 0
  • Market Cap: £100.07m
  • Beta: 0.13

Harwood WM's assets leap after nine acquisitions

By Duncan Ferris

Date: Wednesday 23 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Harwood Wealth Management on Wednesday reported that a "strong" year of growth has seen a sharp rise in assets and the completion of nine acquisitions.
The financial planner and discretionary wealth manager said that, at the close of the year ended 31 October, its assets under influence stood at £4.8bn, a 26% increase over the £3.8bn reported at the same point the year before, while assets under management increased 42% in the same period to £1.7bn from £1.2bn.

Meanwhile, the AIM traded company's profit before tax rose by 63% to £2.0m on a revenue increase of 26% to £32.7m and revenue growth across all three divisions, while adjusted EBITDA increased by 42% to £6.1m.

Chairman Peter Mann said: "It has been another year of strong growth for the group, with EBITDA achieved ahead of the board's expectations set at the start of the year. Our financial success demonstrates the efficacy of Harwood's three-pronged growth strategy and the benefits of building a recognised market position in a fast-consolidating industry."

At 31 October cash and cash equivalents stood at £13.6m, down from £19.0m at the same point the year before, while dividend per share increased by 8% to 3.50p.

The company deployed £10.7m on nine acquisitions throughout the year, a considerable step up when compared with the £2.3m invested on seven acquisitions in the previous financial year.

"The group's growth in revenue was driven by the completion of nine acquisitions over the period, as well as the impact of prior year acquisitions. Acquisitions are a key part of our strategy. We remain very confident that a large pool of opportunities exists, many of which we expect to execute in 2019, continuing to grow the business in scale and capability. We are confident in the group's outlook, with Harwood well positioned to deliver further growth," said Mann.

Harwood Wealth Management's shares were up 2.00% at 147.90p at 1153 GMT.

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HW. Market Data

Currency UK Pounds
Share Price 160.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 160.00
52 Week Low 115.00
Volume 0
Shares Issued 62.54m
Market Cap £100.07m
Beta 0.13

HW. Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.11% below the market average66.11% below the market average66.11% below the market average66.11% below the market average66.11% below the market average
62.96% below the sector average62.96% below the sector average62.96% below the sector average62.96% below the sector average62.96% below the sector average
Price Trend
42.76% above the market average42.76% above the market average42.76% above the market average42.76% above the market average42.76% above the market average
50.68% above the sector average50.68% above the sector average50.68% above the sector average50.68% above the sector average50.68% above the sector average
Income
1.80% above the market average1.80% above the market average1.80% above the market average1.80% above the market average1.80% above the market average
16.05% below the sector average16.05% below the sector average16.05% below the sector average16.05% below the sector average16.05% below the sector average
Growth
97.64% above the market average97.64% above the market average97.64% above the market average97.64% above the market average97.64% above the market average
95.04% above the sector average95.04% above the sector average95.04% above the sector average95.04% above the sector average95.04% above the sector average

HW. Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Oct-19 25-Apr-19
Paid 08-Nov-19 10-May-19
Amount 1.17p 2.42p

Trades for --2019

Time Volume / Share Price
0 @ 0.000p

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