Less Ads, More Data, More Tools Register for FREE

Pin to quick picksKingswood H. Share News (KWG)

Share Price Information for Kingswood H. (KWG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 9.25
Bid: 8.50
Ask: 10.00
Change: 0.00 (0.00%)
Spread: 1.50 (17.647%)
Open: 9.25
High: 9.25
Low: 9.25
Prev. Close: 9.25
KWG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Kingswood Holdings' Annual Loss Narrows Amid Ongoing Turnaround

Mon, 15th Apr 2019 10:47

LONDON (Alliance News) - Wealth management adviser Kingswood Holdings Ltd on Monday reported a narrowed loss in 2018, though the company's core unit registered a decrease in assets under management.

In 2018, Kingswood's pretax loss narrowed to GBP3.8 million from GBP6.1million in 2017. The company's revenue decreased 5.4% to GBP8.8 million from GBP9.3 million the year before.

The company's assets under management & advice in its core business at the end of 2018 stood at about GBP800 million, behind the roughly GBP900 million reported at the end of 2017. Despite the decrease in assets under management & advice, Kingswood said Fixed Income assets in its core business increased by GBP63 million to about GBP700 million.

Kingswood said: "The last couple of years have seen a period of significant management and operational change within the group, with 2018 also impacted by a highly uncertain market environment and weaker investor sentiment resulting in an industry-wide slowdown in net inflows."

The company said its core adjusted loss widened to GBP3.0 million, compared to GBP1.0 million in 2017, on "a number of one-off factors".

A change in accounting method required the reclassification of previously reserved debt and acquisition costs, resulted in a GBP1.0 million negative impact. Senior staff departures cost the firm GBP500,000 and additional restructuring costs had a GBP800,000 negative impact.

Kingswood's administrative expenses increased 20% in 2018 to GBP11.0 million from GBP9.2 million.

"Since Patrick Goulding and I have taken over day-to-day management control at the board's request earlier this year, we have now implemented the significant changes that were originally planned. I am pleased with the future direction of the company and believe a strong foundation is now in place from which to grow the platform and add value for shareholders," said Chief Executive Gary Wilder.

Wilder added: "We have a strong competitive advantage with our integrated Wealth Planning & Investment Management platform. We plan to leverage the platform to its full potential and are looking to expand our current product offering with turn-key opportunities such as mortgages, cash management and lending products, including the launch of Kingswood labelled products in partnership with best in class industry expertise."

Shares in Kingswood were untraded Monday but last closed at 8.25 pence each.

More News
11 Mar 2019 11:18

Kingswood Hires Marinus Capital Founder Canaan To Head US Operations

LONDON (Alliance News) - Wealth manager Kingswood Holdings Ltd on Monday announced a new head of its US arm as it looks to expand operations.Najib Canaan, Kingswood said, has over 30 and he

Read more
28 Feb 2019 14:01

Kingswood Holdings Appoints Operating Chief Butler To Board

LONDON (Alliance News) - Wealth manager Kingswood Holdings Ltd said Thursday it has appointed Chief Operating Officer Graydon Butler to THE board with immediate effect."We believe that

Read more
1 Feb 2019 10:59

Kingswood Acquires Thomas & Co, Rolls Out Managed Portfolio Service

LONDON (Alliance News) - Kingswood Holdings Ltd on Friday said it has continued its expansion with the acquisition of financial advisory firm Thomas & Co Financial Services.In addition,

Read more
17 Jan 2019 13:27

Kingswood Holdings Chief Executive Marianne Ismail Departs

LONDON (Alliance News) - Wealth management firm Kingswood Holdings Ltd said Thursday that Chief Executive Officer Marianne Ismail will leave the company with immediate effect to pursue other Gary

Read more
8 Jan 2019 14:29

Kingswood Holdings snaps up finance veteran Patrick Goulding

(Sharecast News) - Integrated wealth management group Kingswood Holdings announced on Tuesday that Patrick Goulding had joined its board as group finance director.

Read more
8 Jan 2019 10:09

Kingswood Holdings Appoints Patrick Goulding As Finance Director

LONDON (Alliance News) - Wealth management group Kingswood Holdings Ltd said on Tuesday it has appointed Patrick Goulding as finance director.Goulding will be joining from Ardmore partners,

Read more
26 Oct 2018 15:23

Kingswood gets FCA clearance for takeover of Marchant McKechnie

(Sharecast News) - Integrated wealth management group Kingswood Holdings announced on Friday that it has received FCA approval for its acquisition of Marchant McKechnie Independent Financial Advisers.

Read more
26 Oct 2018 10:03

Kingswood Holdings Completes Marchant Acquisition After FCA Approval

LONDON (Alliance News) - Kingswood Holdings Ltd said Friday that the Financial Conduct Authority approved its proposed acquisition of Marchant McKechnie Independent Financial Advisers Ltd, it the

Read more
1 Oct 2018 12:37

Kingswood acquires Marchant McKechnie

(Sharecast News) - Wealth management outfit Kingswood has acquired Marchant McKechnie Independent Financial Advisers for a total maximum consideration of £4m.

Read more
1 Oct 2018 11:11

Kingswood Holdings To Buy McKechnie McKechnie For GBP4 Million

LONDON (Alliance News) - Kingswood Holdings Ltd on Monday said it intends to buy Marchant McKechnie Independent Financial Advisers Ltd for GBP4.0 million.Marchant McKechnie offers a wide of

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.