Acquisitive Financial Planner and discretionary manager Harwood Wealth Management has reported a 74% rise in pre-tax profit to £1.63m in its half year interim results out today.

The company, which plans further acquisitions to add to the five already completed,  saw revenue increase 6% to £16.2m and adjusted EBITDA up 28% to £3.46m.

Total assets under influence during the period which ended on 30 April rose by 23% to £5.3bn.

The group is planning further acquisitions, it said, with two more close to completion.

Harwood chairman Peter Mann said: "At 27 June 2019, the date of reporting, we have completed five acquisitions and exchanged on a further two, with a healthy pipeline of acquisition opportunities ahead of us and our new external bank facility providing headroom to pursue them.

“Our group is in good health as we enter the second half of the year and we look forward with confidence to continuing to deliver profitable growth."

Financial details: 

*Adjusted EBITDA is earnings before interest, taxation, depreciation, amortisation and separately disclosed items. It is a non-IFRS measure and is commonly used as a performance measure by market commentators.

**Adjusted earnings per share are calculated on a post-tax adjusted EBITDA. Source: Harwood Wealth Management

Harwood bought Castleton Financial Planning in Somerset for £1.6m in February, its second acquisition during the company's financial year.

Last year it bought two firms in one week, Fund Management Limited of Ascot for £1.13m and retirement solutions adviser Plan65, also based in Ascot, for £1.156m.