Ken Davy, the founding father of Fintel – the monetary fintech and assist providers agency which owns SimplyBiz and Defaqto – is to step down as chair in Could.
Mr Davy, among the best know entrepreneurs within the monetary providers sector, will stay as a non-executive director of the corporate.
His function as chair will likely be taken by Phil Smith, at the moment an impartial non-executive director. Mr Smith will change into chair following the group’s AGM on 18 Could.
The information comes as the corporate reported income up 8% to £56.4m for the 12 months ended 31 December. Adjusted EBITDA, a measure of revenue, was up 6% to £19.4m.
The corporate stated its monetary efficiency was in step with board expectations and there had been “robust core income progress” with vital progress within the fintech and analysis division.
A remaining dividend of two.25 pence per share was proposed, leading to a full 12 months dividend of three.25 pence per share, a rise of 8% on prior 12 months.
There was progress in recurring income throughout all three working divisions pushed by “demand for know-how and insights providers throughout buyer base.”
There was an extension of compliance providing with the launch of a complete assist bundle in response to the FCA’s new Client Responsibility regulation.
Fintel stated there was additionally continued enlargement of Defaqto’s analysis and scores platform with a significant improve to proprietary Monetary Planning know-how together with extra modules and new again workplace integration.
The corporate is a “selective M&A pipeline anticipated to reinforce progress within the medium time period, underpinned by enhanced monetary reserves and powerful cashflow conversion.”
Joint CEO, Matt Timmins, stated: “Fintel continues to ship on its strategic plan of accelerating progress, digitisation and repair enlargement. Throughout 2022 we delivered one other set of robust monetary outcomes, whereas persevering with to spend money on our know-how and providers platform.
“We’ve began 2023 with actual momentum, persevering with to commerce in step with expectations and progress our technique at tempo, forging multi-year strategic partnerships and creating our distinctive know-how and repair platform.
“As we glance to the long run, we’re assured in our monetary agility and progress technique that’s underpinned by our resilient and extremely money generative enterprise. We’re nicely positioned for robust and sustainable progress, inspiring higher outcomes for all.”