The UK-based IFA firm Lighthouse Group has reported its half-year results: revenue went up by 11 per cent and earnings before interest, tax, depreciation and amortisation increased by 23 per cent.

The group attributed its revenue rise to an improvement in investor confidence.

“Trading progressed steadily during the period. The proportion of recurring revenues now exceeds 25 per cent of the total and continues to rise and the group's operations continue to generate cash,” said David Hickey, executive chairman of Lighthouse Group.

The group posted revenues of £32.6 million (around $50.8 million) for the six months, whilst pre-tax profits rose to £117,000, compared with £56,000 for the same period last year.