Business
Interim results for the six months to 30 Sept 2021
Interim results for the six months to 30 Sept 2021.
About this update from Tatton Asset Management Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5964S\n Tatton Asset Management PLC\n 17 November 2021\n \n \n \n \n 17 November 2021\n \n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.\n \n \n Tatton Asset Management PLC\n \n \n (\"TAM plc\", the \"Group\" or the \"Company\")\n \n \n AIM: TAM\n \n \n \n \n \n Interim results for the six month period ended 30 September 2021\n \n \n \"Continued strong trading momentum delivers record AUM of £10.8 billion\"\n \n \n \n \n \n TAM plc, the investment management and IFA support services group, today announces\n its interim results for the six-month period ended 30 September 2021 (the \"Period\").\n \n \n \n \n \n FINANCIAL HIGHLIGHTS\n \n \n - \n Group revenue increased 26.4% to £13.8m (Sep 2020: £11.0m)\n \n \n - \n Adjusted operating profit1 up 37.9% to £6.9m (Sep 2020: £5.0m)\n \n \n - \n Adjusted operating profit1 margin 50.1% (Sep 2020: 45.9%)\n \n \n - \n Adjusted fully diluted EPS2 increased 33.7% to 8.76p (Sep 2020: 6.55p)\n \n \n - \n Interim dividend up 14.3% to 4.0p (Sep 2020: 3.5p)\n \n \n - \n Strong financial liquidity position, with net cash of £14.7m \n \n \n - \n Strong balance sheet - Net assets increased 37.5% to £27.5m (Sep 20: £20.0m)\n \n \n 1. Adjusted for exceptional items, share-based payment costs and amortisation\n \n \n 2. Adjusted for exceptional items, share-based payment costs, amortisation and potentially dilutive shares\n \n \n \n \n \n OPERATIONAL HIGHLIGHTS\n \n \n - \n Assets Under Management (\"AUM\") increased £1.8bn or 20% to £10.8bn (Mar 2021: £9.0bn)\n \n \n - \n Current AUM at 12 November 2021 c.£11.2bn\n \n \n - \n Organic net inflows £652m (Sep 20: £321m), an increase of 7.3% of AUM - Average run rate of £109m per month\n \n \n - \n Acquisition of £650m Verbatim funds and a five-year strategic distribution partnership with Fintel plc, providing access to 3,800 firms and over 6,000 users \n \n \n - \n Tatton's non-MPS propositions account for over £1.2bn of AUM as at the end of the Period\n \n \n - \n Tatton'...