Ascot Lloyd has released its annual results for the fiscal year ending on December 31, 2022, revealing a profit of £20.8 million.
In the financial report, the company’s total group revenues for the period amounted to £80.6 million, showing a slight increase from the previous fiscal year’s figure of £80.3 million.
The Group’s Adjusted EBITDA stood at £20.8 million, down from £23.1 million in FY21. The total funds under management reached around £9.6 billion, slightly lower than the previous year’s £9.8 billion.
Notably, the year 2022 saw the completion of six additional acquisitions, further bolstering the company’s portfolio which has expanded by over 35 acquisitions since 2017, effectively elevating the count of core clients to nearly 24,000. The momentum continued into 2023, with three acquisitions already completed and several others in advanced stages.
An acquisition that garnered attention was the company being acquired by Nordic Capital, a development announced in April 2022 and finalised in September 2022.
Ascot Lloyd CEO Nigel Stockton says: “Against a challenging market backdrop, we are pleased to report another year of strategic progress, including the completion of six acquisitions in 2022. We also continued to invest in our business, most notably in our technology and digital capabilities to enhance our existing offering as well as our ability to onboard and organically acquire new clients.
“While the volatile market environment did impact our performance in 2022, I believe that our results also demonstrate the resilience and strength of our business, with steady topline performance and overall client growth. This is underpinned by a relentless focus on service and client outcomes and, against continued market uncertainty, our ability to effectively advise clients to help them achieve their investment objectives is central to achieving our strategic goals.
“Looking ahead, this robust performance is enabling us to continue investing in both our business and new acquisitions, while our new owner Nordic Capital gives us significant further firepower with which to expand our UK footprint. We are confident of delivering strong organic and inorganic growth with our commitment to client excellence acting as the foundation this.”