Financial highlights
Revenue up 38% to £43.1m (H1 2015: £31.2m)
Gross margin of 23.1% (H1 2015: 24.3%)
Overheads ratio of 11.7% (H1 2015: 13.0%)
Profit before tax up 34% to £5.3m (H1 2015: £3.9m)
Profit before tax margin of 12.3% (H1 2015: 12.6%)
EPS up 32% to 8.6p (H1 2015: 6.5p)
High operating profit to cash conversion1 of 159% (H1 2015: 102%)
Interim dividend up 59% to 7.8p; payout ratio: c. 90% (H1 2015: 4.9p; payout ratio: c. 75%)
Strong financial position with significant surplus on regulatory capital requirement
Total cash balances of £16.3m (31 Dec 2015: £14.0m)
Unrestricted cash balances of £9.6m (31 Dec 2015: £8.2m)
Operational highlights
Adviser numbers up 13% to 891 at 30 June 2016 (31 Dec 2015: 790)
Average number of Advisers in six months ended 30 June 2016 up 27% to 851 (H1 2015: 671)
Market share up 20% to 4.0% (H1 2015: 3.3%)
Two investments completed, one a specialist telephone protection advice firm, Vita
