Harwood Wealth Management Group PLC Trading Update (6463W)

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RNS Number : 6463W

Harwood Wealth Management Group PLC

16 November 2017

16 November 2017

Harwood Wealth Management Group

("HWMG" or "The Group")

Trading Update

for the year ended 31 October 2017

Harwood Wealth Management Group (AIM: HW.), a leading UK-based financial planning and discretionary wealth management business, is pleased to report that, following the close of its financial year ended 31 October 2017, it expects to report revenue and adjusted EBITDA performance for the full year ahead of market expectations. The Company will report its audited full year results on 23 January 2018.

This performance has been driven by a mix of organic and acquired growth, in line with the Company's stated strategy as well as growth in market value. During the financial year just ended seven acquisitions were completed for an aggregate consideration of GBP2.9 million. Cash as at 31 October 2017 stood at GBP19.0 million, which reflects new acquisitions made during the year and deferred considerations for acquisitions from previous periods, balanced by the highly cash generative nature of the Company.

Peter Mann, Chairman of Harwood Wealth Management, stated:

"I'm delighted to report on a very successful year for Harwood Wealth Management as the Company continues to deliver its focused, stated strategy. The market continues to be highly fragmented and, as we start the new financial year, the opportunity for further value creating acquisitions remains strong."

For further information please contact:

 
 Harwood Wealth Management Group 
  plc 
  Neil Dunkley, Joint Chief Executive 
  Officer 
  Alan Durrant, Joint Chief Executive      [phone] 
  Officer                                   2004 
 N+1 Singer Advisory LLP                   [phone] 
  Alex Price / Alex Laughton-Scott          3000 
 Alma PR 
  Josh Royston / Rebecca Sanders-Hewett    [phone] 
  / Susie Hudson                            4218 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 16, 2017 02:00 ET (07:00 GMT)