Harwood Wealth: Acquisition hunt on track despite Brexit uncertainty

Maiden results since IPO on AIM

Harwood Wealth Management has said it is "actively pursuing" its acquisition strategy despite uncertainty following the Brexit vote, as the group reports its first set of results since listing on AIM.

The wealth manager reported profits on an adjusted EBITDA basis rose 8.7% for the six months to the end of April 2016 to £1.06m, compared to £0.98m during H1 2015. This period included Harwood's IPO on AIM in March, which raised £10m before expenses. Profit before tax for the period was £14,000 (H1 2015: £711,000) after the £263,000 (H1 2015: £nil) of exceptional costs of the IPO, depreciation and amortisation costs of £605,000 (H1 2015: £200,000) and £41,000 (H1 2015: £nil) of costs related to deals completed as share acquisitions. Meet the Investment Influencers: Richard Philbin of ...