Kingswood Holdings Limited (GB:KWG) has released an update.
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Kingswood Holdings Limited reported a significant year-over-year growth with Group Revenue up by 37.7% to £86.2m and Group operating profit increasing by 37.9% to £10.8m for the year ended 31 December 2023. Despite these gains, the company experienced a statutory Loss before Tax of £13.3m, which was attributed to finance costs, non-recurring costs, and non-cash impacting items. Strategic moves included the sale of Benchmark Investments, LLC, for £4.1m, and continued expansion in the US and UK, such as the launch of Kingswood Investments for investment banking services and the growth of IBOSS managed portfolio service by 25%.
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