Serial consolidator AFH Financial’s revenues are expected to exceed £74 million this year, compared to £50.6 million in 2018, of which over £29 million was generated through new business.

In a trading update for the 12-month period ended 31 October 2019, the firm also reported that underlying EBITDA is expected to exceed £17 million, (2018: £10.4 million).

Underlying EBIDTA excludes the one-off exceptional financing costs of its convertible unsecured loan stocks (CULS), said the firm.

AFH raised £15 million (gross) in July 2019 through the placing of 4 percent CULS 2024, with a five-year conversion pri...