AFH Financial annual profit increases on higher revenue, funds under management

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Wealth management company AFH Financial reported a rise in annual profit as increased revenue and funds under management boosted performance.

For the period ended 31 October 2020, pre-tax profit increased to £13.2 million from £13.7 million and revenue was up 4% to £77.1 million.

Funds under management grew to £6.2 billion from £6.2 billion.

The dividend per share was maintained at 6.0 pence.

'The board believes demand for financial planning-led wealth management services will continue and towards the end of the reporting period saw a gradual increase in net inflows of client funds,' the company said.

'Trading remains in line with the board's expectations and the resilience shown throughout 2020 and in the first months of the new financial year leaves us confident for the year ahead,' it added.