The fintech’s net cash position for the year ended 31 December was £2.6m.
The firm reported net debt of £19.4m in 2020.
AIM-listed Fintel owns adviser data provider Defaqto and adviser support firm SimplyBiz.
Total revenue increased 5% to £63.9m (FY20: £61m).
Core revenue also rose 5% to £52.2m (FY20: £49.8m).
The fintech said software as a service and subscription revenues now represent 66% of total core revenues (up from 61% in 2020) and are continuing to grow.
Fintel is continuing to digitize its core business which is says will be helped by its strategic partnership for up to 2,500 additional users through Tatton Asset Management, which was announced last year.
The firm also continues to invest in its ESG strategy and has formed an ESG and Wellbeing Committee. The ESG research platform was also expanded to cover 76 retail investment funds and a digital ESG client profilers was deployer to over 8,000 wealth managers and Financial Planners.
Matt Timmins, joint CEO at Fintel, said: “We have developed a comprehensive and holistic ESG strategy, addressing stakeholder, industry and consumer needs which further strengthens our market position and purpose. Our central position in the market has enabled us to be a significant force in bringing ESG information to professional advisers and their clients.
“We are very excited for the next stage of our journey as we continue to digitise and scale our service model, improve retail financial services, and inspire better outcomes for all.’’
Adjusted earnings per share dropped slightly to 10.5pence (FY20: 11.3pence). Fintel attributed the drop to the change in UK Corporation Tax and said on a like to like basis without the tax change earnings per share would have been 12 pence.
The Fintel board has proposed a final dividend of 2 pence per share, resulting in a full year dividend of 3 pence per share (FY20: 2.85 pence per share).
• Editor's Note: In an earlier version of this story we quoted incorrect figures for EBITDA and net cash. The correct figure for EBITDA is £18.3m (not £18.2m) and the figure for net cash is £2.6m (not £2.5m). Apologies for the errors.
From Financial Planning Jobs. For more click on any job.
-
Performance Director - South West - £100k+bonus
Financial Planning Jobs Read more... -
Chartered Financial Planner - Staffs - £80k-£100k
Financial Planning Jobs Read more... -
Paraplanner - Cheshire - £35k-£50k
Financial Planning Jobs Read more...
This is a selection of jobs from our new Financial Planning Jobs site - for more job vacancies click on any job or the link below.
Financial Planning Jobs https://jobs.financialplanningtoday.co.uk/