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AFH Financial annual profit increases on higher revenue, funds under management
StockMarketWire.com
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Wealth management company AFH Financial reported a rise in annual profit, boosted by increased revenue and funds under management.
For the period ended 31 October 2020, pre-tax profit increased to £13.2 million from £13.7 million and revenue climbed 4% to £77.1 million.
Funds under management grew to £6.2 billion from £6.2 billion.
The company held its dividend steady at 6.0p per share. 'The board believes demand for financial planning-led wealth management services will continue and towards the end of the reporting period saw a gradual increase in net inflows of client funds,' AFH Financial said.
'Trading remains in line with the board's expectations and the resilience shown throughout 2020 and in the first months of the new financial year leaves us confident for the year ahead,' it added.
Story provided by StockMarketWire.com
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