Lighthouse blinks after in-line trading update

Financial advisory outfit Lighthouse Group expects to report an in line performance from its recently wrapped up trading year late next month.

Lighthouse, which will report its full audited results for the calendar year in late February, said on Friday that it expects EBITDA and pre-tax profits to be in line with board expectations.

Chief executive Malcolm Streatfield said: "The board is delighted to report another period of growth for the business."

"Our advisers continue to deliver quality advice to our customers and the annualised revenue production per adviser and levels of recurring revenue continue to build."

The London-based company, which has been listed on AIM since 2000, is one of the UK's largest autonomous financial advice and wealth management groups.

In its interim results, Lighthouse posted a revenue increase of 5% to £26.88m and a growth in pre-tax profits of 12% to £1.26m.

As of 0855 GMT, Lighthouse shares, having endured a fall of more than 40% from their 16-year high last July and then rallied 17% ahead of these results, tumbled more than 10% on Friday to 22.25p.