AFH FINANCIAL Group, the wealth management company in Bromsgrove, has reported soaring profits and revenue as it gets set to move to AIM, London Stock Exchange's junior market later this year. Pre-tax profit jumped by 250 per cent at the firm from £300,000 to £1.1m in the year ended October 31, 2013. Revenue also increased by 50 per cent to £10.8m in the period. AFH has proposed an increased dividend of 1.25p per ordinary share for the year, up from 1p in 2012.
Chief executive Alan Hudson said: "AFH has invested in strengthening its management and to prepare itself for anticipated growth. The current year has started in line with the directors' expectations as the market continues to be active and the impact of 2013 acquisitions is recognised. The directors are confident the group is well positioned to take advantage of market opportunities."
AFH announced in January it was readying itself for admission to AIM in 2014.
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