LONDON (Alliance News) - Frenkel Topping Group PLC has been trading in line with expectations, according to Chairman David Southworth on Tuesday.
The company, which provides independent financial advice on the investment of personal injury damages and clinical negligence awards, started the new financial year well, the chairman told shareholders at the company's annual meeting.
Southworth said the group's assets under management grew to GBP640 million during the first quarter from GBP619 million at the end of December 2014.
The company now has 16 fee earners after making two additions since the end of last year, the chairman said.
"As per our stated objective, we expect recent hires to generate increases in AUM and recurring investment revenues as they develop their operations in 2016 and onwards," Southworth said.
Frenkel Topping, which has expanded across England and Wales, now boasts a presence in Manchester, London, Birmingham, Leeds, Cardiff and Bristol.
"The regional expansion across England and Wales continues to develop as planned and, as previously stated, is expected to deliver accelerated growth from 2016 onwards," Southworth said.
Frenkel Topping shares were untraded on Tuesday. The stock last traded at 40.00 pence.
The annual meeting began at 1000 BST.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Frenkel Topping (FEN)