Foster Denovo|News & opinion|News|Foster Denovo Group 2017 financial results shows return to profitability and 9% revenue growth

Foster Denovo Group 2017 financial results shows return to profitability and 9% revenue growth

Foster Denovo Group Limited, the parent company of national financial advisory business Foster Denovo Limited and fund management company Sequel Investments Limited, announces its audited financial results for 2017.

Before exceptional items, the Group reported EBITDA of £148,000, compared to a loss of £329,000 for 2016.  Revenue increased 9% over this period, standing at £18.5million.

The increased performance reflects further growth from the advisory businesses and Sequel Investments Limited. Sequel continued to attract strong inflows of assets, growing funds under management by 20% to £448 million, with revenues also growing by 36%, leading to profits of £987,000.

Foster Denovo Limited, the advisory arm of the Group, also saw revenue increase by 7% and its Private Client Partners (financial advisers) saw an average increase in productivity of 21%.

On 29 September 2017, the Group acquired TEBC Limited, an employee benefits consultancy based in Marlow. This is an important acquisition, adding additional scale and facilities to the Group’s existing employee benefits division.

Roger Brosch, CEO of Foster Denovo said “We have long believed that investing in our business and our people would help our journey back to profitability.  2017 was a pivotal year in the Group’s journey.  We appointed a new Chairman and we strengthened our leadership team with the appointment of an experienced finance director and a senior M&A specialist.

“Our existing Private Client Partners increased their productivity significantly and 11 new Partners joined the company.   We also completed on a key acquisition. 2018 is no different and continues to be an exciting time.  We are in advanced discussions with a number of potential acquisitions, the recruitment of advisers remains strong and we continue to invest for future growth.”

Read the full press release here.

Find me an adviser
Start your search

Keep up to date with our latest news

Newsletter sign up

Read our privacy policy, by clicking here.
From time to time, we would like to contact you about news, events and other ways we think we can help you. You can unsubscribe from this at any time using the link within your email or by writing to us. Details can be found within our privacy policy. Please be assured that we will not pass your details on to any third parties.
You can contact me by:
Find me an adviser
accordian map downloadplusminus play-video select-box close downloadmapmapmap mapmapmapselect-boxmap mapvideo arrowarrow arrow