By Maitane Sardon
Frenkel Topping Group has announced that its revenue has increased in the first half of the year and that it is optimistic about the future.
In a preliminary report, the financial and professional services firm, specializing in personal injury and clinical negligence, revealed a revenue of £16 million ($20.4 million) for H1, compared to £11.1 million in the previous year.
Adjusted earnings before interest, taxes, depreciation, and amortization reached £3.5 million, up from £2.7 million, and net profit rose to £1.7 million, a significant increase from £0.9 million.
The company also saw an increase in assets under management, which grew to £1.26 billion during the period, up from £1.16 billion in the first half of the previous year.
Frenkel Topping commented on their performance, stating, “The business enters the second half of the year with great momentum from H1. We have benefited from revenue diversification and witnessed encouraging growth in transactional revenue.”
While acknowledging the ongoing challenges in financial markets, which might moderately impact asset growth and recurring revenue, the Board remains confident in achieving its full-year targets.