Titan Wealth revenues up 44% despite overall £44.8m losses

Financial advice giant Titan Wealth has reported revenues of £77.4m, up 44% on the previous year, but its losses before tax have risen to £44.7m, up from £25.1m in 2023, due to acquisition costs, according to its financial statement for 2024.

For the year ended 31 March 2024, the firm saw its losses rise by 78%, which it says came "primarily from loan interest, amortisation and ongoing integration costs linked to the acquisitions".

Despite this, adjusted EBITDA was £31.9m, up from £23.9m in 2023. Assets under management (AUM) also more than doubled from £5.4bn in 2023 to £11.4bn last year, the company's results showed.

The directors said they were "pleased with the progress the group has made" and said both revenues and adjusted EBITDA were "in line with expectations".