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Total net profit back in black for Kellan Group at Y/E 2015

The Kellan Group PLC has announced a significant improvement in year-on-year (YoY) total net profit, as it released its preliminary results for the year ended 31st December 2015.


It confirmed total net profit of £0.43 million for 2015, compared with a net loss of £0.06 million in 2014.


The Group achieved full year revenue of £24.9 million representing an increase of 8.3% from £23m in 2014. H2 2015 revenue totalled £13.4m, which grew by 16.4% compared with £11.5m in H1 2015.


There was also a significant rise in Net fee income (NFI) for the year, which amounted to £7.7m. H2 NFI was £4m and grew by 7.9% compared to £3.7m in H1 2015.


Full year adjusted EBITDA profit was £1.02m compared to a profit of £0.73m in 2014, while operating profit was £0.82m compared with an operating profit of £0.26m in 2014.


The Group said it had continued streamlining the business, with administrative expenses reduced by 11.1% YoY, from £7.7m in 2014 to £6.9m. Excluding the effect of share based payments (2015; £150,000 favourable adjustment; 2014; £78,000 charge), like-for-like administrative expenses have reduced 8.2% from £7.7m to £7m.        


The Group also reported a profit of 0.13p per basic share and 0.11p per diluted share (2014: loss 0.02p for both basic and diluted).


Richard Ward, executive chairman, said, “I am pleased to announce that the Group has continued to build on progress made in previous years; especially in relation to overall profitability. Group sales have increased 8.3% from £23 million in 2014 to £24.9 million in 2015, whilst administrative expenses have reduced by 11.1% from £7.7 million in 2014 to £6.9 million in 2015. Overall profit for 2015 was £0.43 million compared to a loss of £0.06 million in 2014.


“From a trending perspective, adjusted EBITDA has moved from a loss of £0.35 million in 2013 to earnings of £0.73 million in 2014 and earnings of £1.02 million in 2015.


“A new CRM system went live in Q4 2015 for Berkeley Scott and RK Group, with Quantica completed in Q1 2016. The new system is already helping deliver better results with much improved search functionality and reduced administrative burden enabling staff to focus on increasing sales. We have continued investment in IT systems with a new fleet of front end hardware installed for every member of staff during 2015. Our back-end IT infrastructure project completed during the year to further strengthen our working environment.


“I attended my first Group annual conference in January 2016 and was very pleased to see the enthusiasm, high spirit and camaraderie engrained with all our staff which will drive us to achieve continued success during 2016.


“My sincerest thanks go to all our customers, staff and all our loyal shareholders for their long standing support.”


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