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Lighthouse Group

Affinity and recurring revenue continue growth

Outlook | Financials | 12 Mar 2019

FY18 revenues were held back by the impact on client demand of the Q4 equity market correction and a levelling off in pension transfer activity. Nevertheless, revenue generated from affinity relationships continued to grow. Recurring revenue was up 10% and now accounts for more than 50% of customer revenue. The opportunity for the group to generate good long-term growth by meeting the need for financial advice, particularly within its affinity relationships, remains attractive.

Lighthouse Group

On course

Update | Financials | 11 Jan 2019

Lighthouse has confirmed that it is on course to meet board expectations for EBITDA and pre-tax profit for 2018, continuing the progress it made during the first half of the year. The potential to achieve good long-term growth through meeting the need for financial advice, particularly in the affinity business, remains in place.

Lighthouse Group

Strategic agreement with Tavistock Investments

Update | Financials | 15 Nov 2018

Lighthouse (LGT) has announced a strategic agreement with Tavistock Investments (TAVI) that will provide it with access to Tavistock’s investment solutions. This will help deliver the broader offering Lighthouse seeks for its in-house asset management arm, Luceo. In conjunction with this agreement, Lighthouse has subscribed GBP 1m to Tavistock’s GBP 1.25m equity fund-raising giving it a 5.3% stake. Our valuation (c 44p) and estimates are unchanged at this stage.

Lighthouse Group

On track for full year expectations

Update | Financials | 10 Sep 2018

First half results from Lighthouse indicate that it is on track to meet market expectations for the full year, while the strength of its business providing financial advice to members of affinity partners was underlined by its success in renewing all eight of the contracts that have come up for renewal this year. This now accounts for 19% of group revenue and there is good scope to increase penetration in this area. Part of the c GBP 5m of cash the group has available for investment is likely to be allocated here.

Lighthouse Group

Executive interview – Lighthouse Group

Edison TV: | Financials | 04 Sep 2018

Lighthouse Group’s main focus is on providing financial advice to ‘Middle Britain’ and is differentiated by contracts with 21 affinity partners. In this interview CEO Malcolm Streatfield discusses the results for the first half of 2018, highlighting good overall progress with revenues up by 5% from H117, PBT 12% and earnings per share 13%. The interim dividend was increased by 67%. Malcolm also outlines the group’s dividend policy, progress in the affinity business, an increasing level of recurring income and a positive start to H218.

Lighthouse Group

Executive interview - Lighthouse Group

Edison TV: | Financials | 11 Jul 2018

Lighthouse Group’s main focus is on providing financial advice to ‘Middle Britain’. Contracts with 21 affinity partners are a differentiating feature and make an important revenue and profit contribution. Wealth management serves a high net worth client base, while Luceo Asset Management provides an in-house fund offering.

Lighthouse Group

Well-established adviser with a specific angle

Initiation | Financials | 10 Jul 2018

Lighthouse is a financial adviser and aims to provide well-researched solutions to individuals and corporates. It is differentiated by its leading position in serving the members of affinity partners, where it has 21 relationships with unions and other organisations. There is a significant opportunity to increase penetration in this area and success could generate earnings surprises, given the investment already put in place to support the activity.