Archive - Monday, 12 April 2004


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Earnings quadruple

INDEPENDENT financial services provider AWD Holding parent company of Thomson's Group, which has an office in Salisbury achieved much higher revenue and earnings than expected in 2003.

Revenue went up by 21 per cent, from 463.3m euros (£306.6m) to 560m euros (£370.7m).

Earnings before interest and taxes (EBIT) more than quadrupled from the prior year's 13.2m euros (£8.7m) to 55m euros (£36.4m).

"Our strategy of expansion and acquisition has brought a sustainable increase of AWD's growth and earnings potential 2003 was the best year so far since the company was founded," said chief executive officer Carsten Maschmeyer.

At the end of the 2003 financial year, the AWD Group's 4,897 financial advisers looked after 1.2 million customers.

Douglas Gardner, chief executive of UK-based Thomson's Group, said: "This is clearly a fantastic set of results for AWD.

"Having the backing and resources of such a strong parent company is a great asset to Thomson's Salisbury office. It allows us to deliver an exceptional service to our clients, whilst attracting the highest calibre advisers."