(Alliance News) - Curtis Banks Group PLC on Wednesday left its annual payout unchanged, though profit fell despite a double-digit revenue hike.
Revenue in 2020 rose 10% to GBP53.9 million from GBP48.9 million. Pretax profit was 32% lower however, to GBP7.4 million from GBP10.9 million.
The Bristol-based self-invested personal pension provider's administrative expenses climbed 10% to GBP45.3 million.
Assets under administration increased 11% to GBP32.4 billion from GBP29.1 billion.
The company declared a full-year payout of 9.0 pence, unchanged from 2019.
"Curtis Banks made strong progress in 2020. The business effectively weathered the impact of the Covid-19 pandemic and made good progress on a number of strategic initiatives to provide us with a platform for future, long-term, sustainable growth," Chief Executive Officer Will Self said.
Shares in the company were flat at 266.00p each in London on Wednesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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