Aston Lark reports 28% increase in revenue for 2020

Consolidator Aston Lark has reported revenue of £91.7m in 2020, up by 28% on the previous year and driven by its eight acquisitions during the period. The broker said its core organic commission and fee growth was 4.4% for the year. A further 17 acquisitions have been undertaken in 2021.

These are the first full year of accounts since Goldman Sachs Merchant Banking Division bought a majority stake in the business in September 2019, alongside the re-investment by Bowmark Capital LLP.

Explaining how comparisons were made between this first full financial year and earlier years, Aston Lark said: “As the group had a short first accounting period in 2019, comparisons of the financial results are presented on a full year basis up to 31st December 2019 as if the Group had been in existence from 1st January 2019.”

Aston Lark said underlying EBITDA was up by 26% for 2020 on a reported basis and by 22% when adjusted to include a full 12 months of acquisitions made along with their associated integration benefits compared to 2019 on the same basis.

Peter Blanc (pictured), Group CEO, commented: “We are delighted with the progress we have made since having secured Aston Lark’s independence in September 2019. The support of both Goldman Sachs and Bowmark has provided a long-term platform for the group’s growth plans that has been underpinned by the acquisitions we have completed to date and the healthy pipeline in train.”

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