SimplyBiz Group has published its interim results for the six months to 30 June 2018.
These are the first results for the group as a public company, following its completion of IPO on London’s Alternative Investment Market (AIM) in April, which raised £30m for the group.
Profit before tax increased 60.8% to £4.5m, while operating profit was £1.2m, compared to £3.9m fo the same period last year, after the inclusion of IPO related costs of £3.6m.
Meanwhile, group revenue was up 13.7% to £24.2m and member firms increased by 5.7% to 3,628.
Ken Davy, chairman, said: “We are delighted to announce our first results as a public company, following our successful AIM flotation in April. Our performance in the first half of 2018 has maintained our trading momentum, delivering strong top line organic and acquisition growth of over 13% and increasing our adjusted EBITDA margins to 22%.
“Our IPO in April 2018 has been very well received by our members and partners, and we have already witnessed positive commercial and reputational benefit. We continue to increase the number of members and channel partners that we serve, as well as look to pursue selective acquisitions.”