European Wealth Management Group has seen a 59% surge in its funds under management (FuM) to £1.03bn for the year 2014 from £629m a year ago.
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Full-year revenues were up 16% to £6.7m compared to £5.8m posted in 2013. Its EBITDA loss narrowed to £0.2m in 2014 from £0.4m a year earlier, driven by ongoing investment into the business’ development.
Overall, the group’s profit before tax and exceptional items stood at £22,000 as against £1.56m in the prior year. Operating profit was £0.3m versus £1.6m in 2013, while group revenue was £5.6m from £1.9m a year ago.
European Wealth executive chairman John Morton said: "Following the completion of the reverse last May, the Group has continued its significant growth trajectory, funds under management and influence up by over 59% in the year and revenues for European Wealth Management Group Limited were up by 16% over the same period.
"We will continue to grow the business through a combination of strategic acquisitions, attracting revenue-generating individuals and organic growth."
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