Hornbuckle Mitchell posts 21% earnings growth for 2012

Carmen Reichman
clock

Hornbuckle Mitchell has posted a 5% revenue increase and 21% growth in year-on-year earnings for 2012, announced less than a month after the firm sold a controlling stake to two private investors.

The self-invested pensions provider (SIPP) provider announced on Tuesday that its revenues for 2012 reached £12.1m and generated earnings before exceptionals and structural investments of £1.7m on assets under administration of more than £4bn. The firm's pre-tax profits were just £630,000. It said this was due to heavy investment in technology systems and IT infrastructure.  The firm formally concluded the sale of a 60% controlling stake in the business to two private investors last Friday, which also saw Richard Wohanka become non-executive chairman, and Phil Smith chief executive of...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

AJ Bell sells Platinum SIPP and SSAS business in £25m deal

AJ Bell sells Platinum SIPP and SSAS business in £25m deal

InvestAcc Group takes over £3.2bn book of business

Jenna Brown
clock 27 March 2025 • 1 min read
Spring Statement 25: 'As you were' following pensions exclusion

Spring Statement 25: 'As you were' following pensions exclusion

Pensions were notably lacking from today's Spring Statement

Holly Roach
clock 26 March 2025 • 4 min read
Majority of pension savers would use digital advice from providers

Majority of pension savers would use digital advice from providers

Some 73% of workplace pension savers want advice from providers

Jenna Brown
clock 24 March 2025 • 2 min read