Huddersfield business support firm delivers 24% revenue growth following acquisition

A Yorkshire business support firm has announced 24 per cent growth for the year ending December 31 2019.

SimplyBiz, which is based in Huddersfield, delivered an adjusted EBITDA margin of 27 per cent in 2019 - up 4 per cent from 2018.

The firm, which provides compliance and Business Support to directly authorised advisers in the financial services sector, acquired financial services company Defaqto back in March, which has grown the business and contributed to its 2019 performance.

Matt Timmins, joint CEO of The SimplyBiz Group plc, commented: “We are delighted to have successfully completed the acquisition and integration of Defaqto and welcome these new colleagues into the SimplyBiz group.

“The acquisition significantly expands our customer base and breadth of proposition, whilst enhancing the group’s strong and sustainable profit margins.”

“Trading in the group has continued in line with management’s expectation and the group’s cash generative model has enabled the group to repay £7m of debt in the post-acquisition period, further deleveraging the group.”

“The group’s consistent and recurring income model, and strong forward revenue visibility, continues to provide the board with confidence and optimism as we enter 2020.”

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