Business
Results for the year ended 31 March 2023
Results for the year ended 31 March 2023.
About this update from Oberon Investments Group Plc.
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed to constitute inside information as stipulated under the UK version of the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \nOberon Investments Group plc\n \n('Oberon', the 'Company' or the 'Group')\n \nResults for the year ended 31 March 2023\n \n \n \nOberon Investments Group plc (AQSE: OBE), the boutique investment management, wealth planning and corporate broking group, is pleased to announce its results for the year ended 31 March 2023.\n \nSummary\n· 2022/23 has been a year of investment for Oberon.\n· £5.6m has been raised since March 2022 to take advantage of the weak financial markets to:\no Fund the acquisition expenses of Logic and Nexus (post period end);\no Selectively hire strong teams that were becoming available;\no Undertake the consolidation of our various legacy systems to provide cost savings in future years;\no Build up compliance and operations infrastructure to position the group for future growth.\n· While there was a one-off higher EBITDA loss for the period, following this program, and the various increases in client numbers and Investment Management teams, Oberon is now well placed to experience growth and expect revenue to increase by over 60% in 2023/24, and further in 2024/25.\n· A research note on the group has been published and can be found here:\nhttps://progressive-research.com/company/oberon-investments-group-plc/\n \nFinancials\n· Management fee income remained strong, however revenue was weak in dealing commissions and in the Oberon Capital division, where fundraises across the markets have diminished. As a result, revenue decreased to £5m (2022: £6.8m).\n· Initiatives such as the acquisition of Logic and the hiring of new teams have incurred costs in the current reporting period, with the majority of revenues only coming through post period end.\n· Various...