Foster Denovo Group increases revenue in 2014
Foster Denovo Group plc today announces its audited financial results for 2014. Revenue in the year increased to £26.40m from £24.97m (5.69%).
Profit before tax for the year, including the reversal of provisions in Foster Denovo Limited as highlighted in relation to 2013’s results, was £1.64m representing EBITDA for the year of £2.16m.
Revenue increased by 11.6% across Foster Denovo Limited’s private client advisers and, despite changes to employee benefits remuneration models imposed by the DWP, 3.9% across Foster Denovo Limited as a whole.
Roger Brosch, CEO, said: “I am pleased with 2014’s results and the progress that has been made following the transition to the post-RDR world. They demonstrate the attractiveness of our client propositions and the quality of our staff and infrastructure.
These are exciting times for the sector and we have committed to invest heavily in a number of innovative initiatives this year that will enable further organic and acquisitive growth in 2016 and beyond.”