Hennessy Advisors, Inc (HNNA) has reported a 26.14 percent rise in profit for the year ended Sep. 30, 2016. The company has earned $14.37 million, or $2.79 a share in the year, compared with $11.39 million, or $1.91 a share for the last year. Revenue during the year grew 14.91 percent to $51.41 million from $44.74 million in the previous year.
Operating margin for the year was stable at 100 percent, when compared to the previous year.
"Despite operating in a challenging competitive environment, Hennessy Advisors recorded another year of solid growth in revenue, earnings and assets under management. We recently completed our eighth successful acquisition, and we remain focused on our proven business model of growing organically and through strategic acquisitions," said Neil Hennessy, president, chairman and chief executive officer of Hennessy Advisors, Inc.
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