Business
Results for year ended 31 December 2019
Results for year ended 31 December 2019.
About this update from Jarvis Securities Plc
[{"type":"text","content":"\n \n \n RNS Number : 8325F\n Jarvis Securities plc\n 12 March 2020\n \n \n \n \n THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE \n EU\n MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n \n \n \n \n 12 March 2020\n \n \n \n \n \n Jarvis Securities plc\n \n \n (\"Jarvis\" or \"the Company\" or \"the Group\")\n \n \n \n \n \n RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019\n \n \n \n \n \n HIGHLIGHTS\n \n \n \n \n \n · \n 11% increase in profit before tax\n \n \n · \n 4% increase in year on year interest income\n \n \n · \n 7% growth in interim dividend per share\n \n \n · \n Additional special dividend of 15p per share paid\n \n \n · \n 13% increase in EPS\n \n \n \n \n \n CHAIRMAN'S STATEMENT\n \n \n \n \n \n · \n 11% increase in profit before tax\n \n \n · \n 4% increase in year on year interest income\n \n \n · \n 7% growth in interim dividend per share\n \n \n · \n Additional special dividend of 15p per share paid\n \n \n · \n 13% increase in EPS\n \n \n \n \n \n \n \n \n I am pleased to be able to report that we have built on excellent midyear results and had a record-breaking year in spite of the market uncertainty caused by the political environment which prevailed throughout most of 2019. Trade volumes year on year up to 31 December 2019 have fallen, but the changes we made to the business model during 2018 have led to an increase in fixed income. This action was necessary to offset increases in our fixed cost base driven by recent regulatory and legal changes throughout the industry.\n \n \n \n \n \n The performance towards the end of 2019 and early 2020 bodes well for the future. The election result at the end of 2019 has added an element of political certainty that has been lacking since the initial vote to leave the EU, and market volumes are typically higher in times of political stability. I feel we are seeing light at the end of the tunnel.\n \n \n \n \n \n As I have stated before we are well positioned to capture the financial gains of increased trade volumes - being predominately IT focused overheads will not increase propor...