Financial advisory firm Sedulo, which employs 45 people at its Liverpool base, is reporting annual revenues of £20.6m – 37% higher than in 2023. Tony McDonough reports

Financial advisory firm Sedulo says its annual revenues are up by 37% to £20.6m with profitability also up on 2023.

Although Sedulo, which operates from offices in Liverpool, Manchester, London, Leeds and Birmingham, has yet to post its results for the 12 months to October 31 on Companies House, it has issued a media update.

It says EBITDA (an alternative measure of profitability) for the same period was £2.9m, a 45% increase on the previous year’s result. The company has not revealed its pre-tax profit figure which in the previous year was just over £1.3m.

The firm opened its first office in Liverpool in 2021 in a £1.4m investment. Sedulo paid £1m for a lease at Exchange Flags in Liverpool city centre and spent a further £400,000 refurbishing the premises.

Weeks later it announced the acquisition of 60-year-old Liverpool accountancy firm Wilson Henry. Main growth areas within the firm over the past year were tax incentives, financial planning, debt funding and deal advisory services.

These figures are on the back of a strategy set in 2023 to double in size by 2026 and the business is firmly on track to meet that deadline.

In 2024 its headcount increased from 175 to 215, with the deal advisory side growing significantly after Logan Rowan’s recruitment earlier in the year. As a result, the transaction services team had a record year.

During the year, Sedulo acquired an R&D specialist and opened its fifth office in Birmingham, while introducing a capital allowance and energy tax relief offering to the tax incentives scheme.

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Founder Paul Cheetham-Karcz said: “The year end results are a great achievement and in line with a strategy towards a £30m business in the next couple of years. They are testament to the dedication and commitment of the team we have built here.

“There is a real opportunity in our market space to be the largest founder-led, independently owned, boutique advisory firm in the UK. We intend to own that space.”