You are here: Home - News -

SimplyBiz reports increase in revenue and earnings

by:
  • 28/01/2020
  • 0
SimplyBiz reports increase in revenue and earnings
SimplyBiz has reported a strong increase in its revenue and earnings in the 12 months to December following the acquisition of financial ratings firm Defaqto.

 

The firm, which provides compliance, technology and business services to financial advisers and financial institutions, reported a 24 per cent rise in revenue and a 50 per cent increase in earnings before interest, taxes, depreciation and amortisation (EBITDA), in a trading update.

Defaqto has been integrated into the SimplyBiz Group which serves 5,800 intermediary firms and more than 350 financial institutions.

Matt Timmins (pictured), joint CEO of The SimplyBiz Group, said: “We are delighted to have successfully completed the acquisition and integration of Defaqto and welcome these new colleagues into the SimplyBiz Group.

“The acquisition significantly expands our customer base and breadth of proposition, while enhancing the group’s strong and sustainable profit margins.”

The group intends to publish its full-year results on 10 March.

 

Tags

There are 0 Comment(s)

You may also be interested in

Read previous post:
MAB posts double digit growth in revenue and adviser numbers

Mortgage Advice Bureau (MAB) has reported double digit rises in revenue and adviser numbers, helped by its acquisition of First...

Close