Last checked at 20 Jan 2014 15:33
Press Release | 20 January 2014 |
Frenkel Topping Group plc
("Frenkel Topping", "the Company" or, together with its subsidiaries "the Group")
Trading Update
Frenkel Topping (AIM:FEN), the provider of specialist independent financial advice on the investment of personal injury damages and clinical negligence awards, today releases a trading update ahead of the release of its final results announcement for the year ended 31 December 2013, which is expected towards the end of March 2014.
The Company announces that due to an excellent year of new business, its final results for the year ended 31 December 2013 are expected to be ahead of market expectations.
During the year the Group exceeded £0.5 billion of Funds in the Investment Management Service. In addition, its best of breed investment solutions have been embedded and well received in the market place, which is expected to result in an increase in gross, operating and net profit margins.
David Southworth, Chairman of Frenkel Topping commented: "The Board is pleased to confirm that the Company's results for the full year are expected to be ahead of market expectations. The Group made considerable progress during the year, having successfully prepared for the legal reforms and considerable changes to benefits entitlement which occurred in 2013, as well as growing the Funds in the Investment Management Service to over £0.5 billion."
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For further information please contact:
Frenkel Topping Group Plc | |
Richard Fraser, Chief Executive | Tel: +44 (0)161 886 8000 |
Shore Capital | |
Pascal Keane / Patrick Castle | Tel:+44 (0)20 7408 4090 |
Media enquiries:
Abchurch | |
Joanne Shears / Jamie Hooper | Tel: +44 (0) 20 7398 7719 |
Jamie.hooper@abchurch-group.com | www.abchurch-group.com |
Notes to Editors:
About Frenkel Topping
Frenkel Topping Limited ("Frenkel Topping") is the trading subsidiary of Frenkel Topping Group Plc.
Frenkel Topping provides specialist independent financial advice on the investment of personal injury damages and clinical negligence awards. Frenkel Topping offers a complete service for all personal injury claims handlers, lawyers and individual clients, dealing with awards from tens of thousand pounds to multi-million pound cases. Frenkel Topping's expertise includes asset protection, bespoke investment portfolios, analysis of periodical payments, Court of Protection portfolios and provision and setting up of trustee and receivership bank accounts. Frenkel Topping has over £0.5 billion of clients' funds in its investment management service.
The Group's strategy is to continue to grow its Funds in Investment Management Services organically and to maintain steady levels of recurring revenues at their current high levels of circa. 70%. The Group's strong market position means that it is well poised for future growth.