Kingswood UK operating profit up 80% to £11m in 2022

Trading statement for the year ended 31 December 2022

Jenna Brown
clock • 2 min read

The UK division of consolidator Kingswood reported an 80% increase in operating profit to £11m last year, according to its latest trading statement.

It said the UK division performed strongly "reflecting rapid growth in the business". Earlier this month it confirmed it was in talks about the potential sale of the UK business. UK revenue stood at about £33.8m, up 54% year on-year. The statement added that 87% of the UK operation's revenue was recurring "providing a strong, annuity-style fee stream". The firm explained that the rise in operating profit was driven by its acquisitions and was underpinned by "careful cost management". It completed ten buyouts in the UK last year, adding £1.7bn in assets under administration, 28 adviser...

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 Companies

FSCS declares firm failed over pensions advice

FSCS declares firm failed over pensions advice

Not British Steel related

Isabel Baxter
clock 25 April 2025 • 1 min read
SJP still working on historic advice review with charges overhaul given summer start date

SJP still working on historic advice review with charges overhaul given summer start date

Cost and efficiency programme continues

Jenna Brown
clock 24 April 2025 • 2 min read
Marlborough develops bespoke portfolio service for advisers' HNW clients

Marlborough develops bespoke portfolio service for advisers' HNW clients

Developed and headed up by Edward Kennedy

Isabel Baxter
clock 22 April 2025 • 3 min read