LEBC Group's information technology investment delivers 15% increase in profits

LEBC Group, the national IFA, pensions and employee benefits consultancy, has reported an operating profit increase of 15.4% to £2.1m (£1.8m, 30 September 2015).

The Leeds-headquartered company also saw turnover increase to £15.4m from £15m (+2.7%), with significant additional net cash generation.

Cash at bank has increased at year end by over £1.3m while the company paid dividends in the year of £800k.

During this period, the company has continued to develop propositions through its three divisions, Individual Savings & Investments, Longevity Risk and Group Savings & Investments.

Jack McVitie, chief executive of LEBC Group, said: “The momentum of strong company performance built on last years’ excellent platform is already evident in our results year to date.

“We continue to invest in information technology to deliver solutions for more clients in the most efficient way, as we engage with clients through technology.

“Whilst there is industry wide interest in “Robo” advice, we believe more in providing “Bionic” advice (the use of technology and human interface to deliver appropriate client solutions).

“This combination is the only way to sustainably embrace the growing advice demand in a profit positive and cash generative manner.”

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