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

Overseas pension transfers: How recent rule changes impact recent and future advice

Overseas pension transfers: How recent rule changes impact recent and future advice

Daniel Bosiacki looks at recent rule changes that affect overseas pension transfer advice...

Daniel Bosiacki
clock 06 January 2025 • 3 min read
Exploring pensions outsourcing as a route to unlocking efficiencies

Exploring pensions outsourcing as a route to unlocking efficiencies

'Unlocks the potential for iterative improvement'

Julia Fintz
clock 24 December 2024 • 7 min read
Government confirms no compensation for WASPI women over state pension age changes

Government confirms no compensation for WASPI women over state pension age changes

DWP finds communication delays did not amount to financial loss

Martin Richmond
clock 17 December 2024 • 4 min read