StockMarketWire.com - Curtis Banks Group said profit before tax increased by 31% to £5.9m in the year to the end of December, while operating revenue rose by 47% to £43.6m.

Adjusted operating profits were up 51% at £10.7m as adjusted operating margin rose to 25%.

The number of SIPPs administered increased by 14% to 76,474.

Assets under administration increased by 21% to £24.7bn.

The firm proposed final dividend of 4.75p - well above the 3p in 2016 - taking the total dividend for the year to 6.25p, up from 4p a year ago.

The firm said it launched a new group wide brand and trimmed its office locations down to three sites in Bristol, Dundee and Ipswich.

Rupert Curtis, CEO of Curtis Banks, said: 'This year has been one of considerable progress for the Group with a strong increase in our operating revenues and adjusted operating profit. As a result and in accordance with our progressive dividend policy I am pleased to report a 56% proposed increase in our dividend for the year.'

'We have undergone a period of consolidation following the acquisition of Suffolk Life and now have a single identity for the Group. Our new integrated Group Management Committee has built the foundations for us to operate more efficiently and to provide an even better service for our customers.'

'The market opportunity for SIPP providers remains compelling. The key regulatory and demographic drivers of our organic growth persist and we are well positioned to continue our profitable growth.'






At 9:50am: [LON:CBP] Curtis Banks Group Plc share price was -1p at 311p



Story provided by StockMarketWire.com