Lighthouse Group hikes interim dividend on higher earnings and revenue

14th Sep 2015 15:18

(ShareCast News) - Financial advice firm Lighthouse Group posted a sharp increase in interim profit, on the back of improved margins and higher revenue.In the six months to 30 June, the group posted a pre-tax profit of £359,000, considerably higher than the £88,000 it recorded in the corresponding period in 2014.Earnings before interest, tax, depreciation and amortisation surged 66% year-on-year to £723,000, while revenue climbed 2.5% to £23.5m and gross margins edged higher from 29% to 30%.Group chairman Richard Last said on Monday the group was well placed to meet its full-year expectations notwithstanding the recent market fluctuations."With a strong balance sheet and net cash reserves of £6.9m, the group is well placed to take advantage of the opportunities available to it [...] whilst dealing with increased regulatory costs and an uncertain general economic outlook," he added.The London-listed company raised its interim dividend by 33.3% year-on-year to 0.08p.Lighthouse shares were up 4.76% to 8.25p at 1540 BST on Monday.