StockMarketWire.com - Frenkel Topping - a leading provider of specialist independent financial advice on the investment of personal injury damages and clinical negligence awards - saw continued growth in revenues, pre-tax profits and funds under management in the year to the end of December.

Unaudited revenues for the full year grew 3.6% to £5.7m (2013: £5.5m) which, with a marked improvement in profit margins, led to an increase in the operating profit (before share based payments) of 21% to £1.74m (2013: £1.43m). Pre-tax profit increased by 12.2% to £1.56m (2013: £1.39m), in line with market expectations. Funds in the Investment Management Service business increased by 9.3% to approximately £610m (as at 31 Dec 2013: £558m).

The company says it continues to maintain an impressively high client retention rate of 99% for its Investment Management Service and overall regular recurring revenue now accounts for 74% of total revenues (2013: 70%).

Cash balances remain strong with a net cash balance of £1.70m (as at 31 Dec 2013: £1.52m) and this is after the purchase, by the employee benefit trust, of the company's own shares during the year totaling £407,072 and the payment of £458,731 to shareholders in dividends, including the Company's first ever Interim dividend. The Board has agreed a progressive dividend policy whereby future dividends will increase in line with profits. Further details of the final dividend will be provided in the final results announcement.

Managing director Richard Fraser said: "This was another very successful period for the Company as we continued to build on consistent year-on-year growth. We have a very strong offering and the fact that we have once again grown profits, revenues and Assets Under Management is testament to our team's hard work while the fact that we paid our first interim dividend highlights our focus on providing further real shareholder value and confidence in future growth."

Frenkel Topping will release final results for the year ended 31 December on 23 March.


At 8:13am: [LON:FEN] Frenkel Topping Group PLC share price was +0.5p at 41p



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