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Lighthouse

  • BY: Andrew Hore |
  • POSTED: 18/07/2017 |

IFA Lighthouse Group is trading in line with expectations and the interim figures will be much better than those in 2016. 

House broker finnCap forecasts an improvement in full year figures from £2.2m to £2.4m. However, there is nothing in the forecasts for Luceo Asset Management, the subsidiary that has built up assets under management from £8m to £20m. This will be an increasing source of recurring revenues.

Net cash was £8.1m at the end of June 2017. The Financial Conduct Authority has agreed to remove capital asset restrictions on financial advisers that were put in place in 2012. That provides scope for higher dividends.

The share price rose 0.88p to 15.75p, which puts the shares on 13 times prospective earnings and a yield of 2%.

The interim figures will be published on 5 September. 

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