PraxisIFM reports revenue increase

Posted: 20/09/2018

PraxisIFM Group has reported an increase in revenue of 21 per cent as part of the company's 2018 annual results.

Revenue rose to £42.5 million, with adjusted EBITDA up from £9 million in 2017 to £9.9 million this year.

The group also reported organic growth of 11 per cent and dividend payment of 2p per share.

Chairman Andrew Haining commented: "As a private company, the group has previously demonstrated the ability to acquire, integrate and develop its business. As a public company, we continue to build on that approach using the additional benefit of being listed to drive growth."

Acquisitions and office openings over the past 18 months have brought the global office count to 17.

The group’s three main divisions all reported strong organic growth, with both Trust and Corporate Services and Fund Services growing revenue by 12 per cent.

The Pension Services division grew by 173 per cent, mainly driven by the acquisition of a 50 per cent stake in Netherlands-based corporate pension administration business RiskCo.

In the Trust and Corporate Services division, the main acquisition was Kompas International, with Nerine Group and Jeffcote Donnison taking place after the year end. 

• The full report can be found here 

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