Business
Interim results
Interim results.
About this update from Tatton Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 3608Y Tatton Asset Management PLC 05 December 2017 \n\n5 December 2017\nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA THE REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\nFOR IMMEDIATE RELEASE\nTatton Asset Management plc (\"Tatton\" or the \"Group\")\nInterim results for the six months ended 30 September 2017\nMaiden results in-line with expectations, with strong period of organic growth; inaugural interim dividend announced\nTatton Asset Management plc (the \"Group\") (AIM: TAM), the on-platform discretionary fund management (DFM) and support services business for independent financial advisers (IFAs), today issues its maiden interim results for the six-month period ended 30 September 2017, following its Admission to Alternative Investment Market (AIM) in July 2017.\nFinancial Highlights\n· Discretionary assets under management (\"AUM\") within Tatton Capital up 15% since March 2017 to £4.44 billion at 30 September 2017 and up 33% over twelve months (March 2017: £3.85 billion; 1H16: £3.33 billion), with the run rate averaging over £80million per month\n· Group Revenue increased 31% to £7.3 million (1H16: £5.6 million)\n· Adjusted EBIT1 up 56% to £3.1 million (1H16: £2.0 million)\no Adjusted EBIT1 margin of 42.2% (1H16:35.4%)\no Adjusted EPS2 up 53% to 4.36 pence (1H16: 2.85 pence)\n· Reported Profit Before Tax decreased to £0.54 million (1H16: £1.86 million), after charging exceptional initial public offering (IPO) costs of £1.6 million and share option costs of £0.9 million, the latter arising from the group structuring that took place in order to deliver the IPO\n· Strong financial position, with net cash of £10.5 million (1H16: £0.1 million) and regulatory capital resources in significant surplus to requirements\n· The Group is pleased to announce an inaugural interim dividend since its IPO of 2.2 pence per share\nBusiness Highlights\n· Successful IPO on AIM completed on 6 July 2017 raising £51.6 mill...