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Profits growth point to spending spree

Roger Brosch, Chief Executive Officer, said Foster Denovo could return to the acquisition trail again after reporting stronger profits and turnover for last year.

Mr Brosch said that significant levels of pre-RDR investment had also paid off, with strong organic growth coming as a result of the work done before the 1 January implementation date.

He said: “We have undertaken a great deal of work in the lead-up to RDR, which has further built on the deep foundational values that have guided our success to date.

“These results have also been supported by the acquisition activity that we undertook in 2011 and 2012, which was successfully integrated during the period and we remain excited by the prospect of further acquisition opportunities in the future.”

Among the firms that have been purchased by Foster Denovo so far are wealth manager Barker Poland and the IFA arm of insurance broker John Holman & Sons.

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