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Frenkel Topping reports higher annual profit, revenue as AUM boosted by new business

By BFN News | 08:16 AM | Tuesday 22 June, 2021


Financial services firm Frenkel Topping reported a rise in annual profit and revenue as assets under management was boosted new business wins and net inflows. Revenue and pre-tax profit in 2020, increased by 19% and 25% to £10.2m and £1.5m respectively. As at 30th April, AUM was up about 6% to £1,072m compared to £1,012m as at 31st December 2020, reflecting 'net inflows and encouraging levels of new business wins,' the company said. 'This performance was underpinned by the continued implementation of our organic growth strategy, driving AUM growth as well as a focus on the consolidation of the personal injury and clinical negligence marketplace through the acquisition of Forth Associates and, early in the current financial year, the acquisitions of A & M Bacon and Partners in Costs Limited,' it added. 'The board reiterates its confidence in the full year outturn and that it continues to trade in line with management expectations.' Story provided by StockMarketWire.com

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