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Wealth management company Kingswood reported wider first-half losses as a rise in costs offset a sharp increase in revenue.
For the six months to 30 June 2020, pre-tax losses were £3.4m, compared with a profit of £2.2m, while revenue rose 96% to £8.25m.
Revenue was boosted by the impact of recent acquisitions, the company said.
'Whilst in the current environment it is difficult to project expected outcome for the full financial year, Kingswood has completed 3 acquisitions this year which will have a positive impact on FY2020 revenue and EBITDA,' the company added.
At 9:10am: (LON:KWG) Kingswood Holdings Limited Ord 5p share price was 0p at 27p