Ascot Lloyd, the UK financial services provider, has reported a revenue increase of 24% in its 2020 results, rising from £51m in 2019 to £63m.
Furthermore, group EBITDA increased by over 20% to £14.3m (2019: £11.9m), and AUM also rose from £6.8bn to £9.4bn with Avellemy, the group’s discretionary fund manager, responsible for £1.8bn of these assets at the end of the year.
In 2020 the business undertook a significant reorganisation of its corporate structure. The reorganisation changes the shape of the UK results, meaning that the accounts for Ascot Lloyd UK no longer reflect the overall group position.
Nigel Stockton, group CEO, said: “I am pleased to report a positive year for Ascot Lloyd despite the impact of the pandemic. These results are testament to the resilience and quality of our business, our people, and the national platform we have built.
“All our staff quickly embraced remote working and reoriented the business to ensure our clients benefitted from continued excellent customer contact and service during a period when they needed this more than ever. The business added 12 acquisitions in 2020 as we continued to execute against our strategy and rapidly grow our business.”
He added: “In 2021 we expect Ascot Lloyd to achieve strong further growth against our 2020 published numbers. This year we have already completed three transactions and are working on a number of further significant acquisitions.”