- Financial adviser services provider SimplyBiz swung to a first-half loss owing to IPO costs, though revenue and underlying profits both rose.

Pre-tax losses for the six months through June amounted to £1.2m, compared to profits of £2.4m on-year, and included IPO-related costs of 3.6m.

Revenue rose 14% to £24.2m, while adjusted pre-tax profit rose 61% to £4.5m.

The company, which listed on AIM in April, declared a maiden interim dividend of 0.98p per share in respect of the nine months through December, as per the stated intention in its admission document.

Member firms increased 5.7% to 3,628, while assets under management increased 5.6% to £615m.

'Our performance in the first half of 2018 has maintained our trading momentum, delivering strong top line organic and acquisition growth of over 13% and increasing our adjusted Ebitda margins to 22%,' chief executive Ken Davy said.

At 8:32am: [LON:SBIZ] The Simplybiz Group Plc Ord Gbp0.01 share price was +10.01p at 187.01p

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