Phaidon’s 2015 NFI up 18% YoY
Phaidon International has released its financial results for the year ended 31st October 2015.
Net fee income was up 18% year-on-year from 21.7m in 2014 to £25.7m in 2015.
Reported operating profit rose from £3.4m in 2014 to £3.9m in 2015, a 15% increase year-on-year.
The company reported that underlying EBITDA was £4.4m in 2015, up 22% from £3.6m in 2014.
The company has also opened two new offices in San Francisco and Boston, while expanding its US headquarters in New York. It also secured investment from Muzinich & Co alongside HSBC plc.
Phaidon International’s founder, Adam Buck, commented, “In a year which saw heavy investment in our expanding US operation and headcount globally it is pleasing to see the group’s improved year on year performance. I look forward to Phaidon accelerating this growth further over the coming years following our institutional backing.”
Stuart Batchelor, Phaidon International’s recently appointed chief strategy officer, said, “The team have created a tremendous platform for future value creation. Our strategic imperative going forward is to accelerate our expansion in those markets that offer us sustainable growth opportunity and high quality returns.”