Harwood acquisitions to push EBITDA ahead of expectations

20th Nov 2018 10:07

(Sharecast News) - British financial planner Harwood Wealth Management expects to report strong revenue and EBITDA growth from its recently wrapped up trading year.Harwood completed a total of nine acquisitions throughout the year for a total of £10.7m and held cash of £13.6m as of 31 October, as cash used to fund its acquisitions was augmented by the "cash generative nature of the business."The AIM-quoted outfit anticipates adjusted EBITDA will be "ahead of market expectations".Chairman Peter Mann, said: "I am very pleased to report on another successful year for the group, with strong revenue growth and an EBITDA performance which is comfortably ahead of market expectations.""This performance demonstrates the robustness of the business underpinned by a strong operating model and we look forward to continuing to drive growth going forward."As of 1005 GMT, Harwood shares had climbed 4.93% to 157.40p.