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Wealth and investment management compnay Kingswood said it expected to report higher revenue and profit for the full year that would meet market expectations.
For the year ended 31 December 2021, the company said it expects to full year revenues of approximately £148.8 million, up from £25.5 million and an operating profit of approximately £6.9 million, up from £0.9 million year-on-year and in line with market expectations.
Record revenue was seen in the year with an increase of 484% on the prior year, through a 'successful number of acquisitions in the UK and growth in the Investment Banking and RIA/Broker Dealer businesses in the US,' the company said.
'The US business has delivered exceptional growth in 2021 and we are confident of further accelerated growth on both sides of the Atlantic in 2022,' it added.