LEBC takes steps to go into profit

In 2012, the company delivered a profit of £543,784, compared with a 2011 loss of £577,271.

Turnover was £10.17m, which was a slight reduction on the £10.22m recorded the year before.

The firm, which has its registered office and a team in Leeds’ Thorpe Park, and a further 12 branches nationwide, has also reported a positive start to the new year, with strong revenues and operating profit.

Jack McVitie, chief executive of LEBC Group, said: “Our decision to restructure the business in 2011... has had a significant and positive impact on our performance.

“While the industry continues to go through a very testing time, with most large IFAs struggling with profitability, we have taken the necessary steps to weather this period of turbulence.

“The business now has a strategic focus and structure that is firmly aligned with our customers’ requirements in a rapidly evolving marketplace.”