Financial advisory firm Sedulo, which has a major base in Liverpool, sees pre-tax profits soar 56% to just over £2m with shareholders pocketing more than £500,000 in dividends. Tony McDonough reports

Financial advisory firm Sedulo is reporting a big rise in pre-tax profits as shareholders pocket a hefty dividend.

Sedulo, which employs more than 200 people at offices in Liverpool, Manchester, London, Leeds and Birmingham, has posted its annual accounts for the 12 months to October 31, 2024, on Companies House.

Late in 2024 the company did publicly release some of the figures revealing a 37% rise in revenues to £20.6m and EBITDA (an alternative measure of profitability) of £2.9m, a rise of 45% on the previous year.

However, the company did not reveal its pre-tax profit figure or shareholder dividends. These latest accounts reveal pre-tax profits were up 56% to just over £2m. Dividends paid out to shareholders totalled £561,424.

Biggest shareholder is Sedulo founder Paul Cheetham-Karcz. He is listed on Companies House as a “person with significant control” holding more than 25% but not more than 50% of the shares.

The business 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 accounting period were tax incentives, financial planning, debt funding and deal advisory services.

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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.”