Business
Interim results for the six-months to 30 Sept 2022
Interim results for the six-months to 30 Sept 2022.
About this update from Tatton Asset Management Plc
[{"type":"text","content":"\n \n \n \n 22 November 2022\n \n \n \n \n \n \n \n Tatton Asset Management PLC\n \n \n \n \n (\"TAM plc\", the \"Group\" or the \"Company\")\n \n \n \n \n AIM: TAM\n \n \n \n \n Interim results for the six-month period ended 30 September 2022\n \n \n \n \n \"Record net inflows during volatile markets\"\n \n \n \n \n \n \n \n \n TAM plc, the investment management and IFA support services group, today announcesits interim results for the six-month period ended 30 September 2022 (the \"Period\").\n \n \n \n FINANCIAL HIGHLIGHTS\n \n \n \n -\n Group revenue increased 15.1% to £15.9m (Sep 2021: £13.8m)\n \n \n -\n Adjusted operating profit1 up 15.1% to £8.0m (Sep 2021: £6.9m)\n \n \n -\n Adjusted operating profit1 margin 50.1% (Sep 2021: 50.1%)\n \n \n -\n Adjusted fully diluted EPS2 increased 12.9% to 9.89p (Sep 2021: 8.76p)\n \n \n -\n Interim dividend up 12.5% to 4.5p (Sep 2021: 4.0p)\n \n \n -\n Strong financial liquidity position, with net cash of £21.6m (Sep 2021: £14.7 million)\n \n \n -\n Strong balance sheet - Net assets increased 29.5% to £35.7m (Sep 2021: £27.5m)\n \n \n \n 1\n \n Adjusted for exceptional items, share-based payment costs and amortisation\n \n \n \n 2\n \n Adjusted for exceptional items, share-based payment costs, amortisation and potentially dilutive shares\n \n \n \n \n \n \n OPERATIONAL HIGHLIGHTS\n \n \n \n - \n Record organic net inflows of £907m (Sep 2021: £652m), an increase of 8.0% of opening Assets Under Management (\"AUM\") - Average run rate of £151m per month\n \n \n - \n Acquisition of 50% of the share capital of 8AM Global Limited (\"8AM\") adding c.£1.0bn of Assets Under Influence (\"AUI\")\n \n \n - \n Assets Under Management / Influence increased by £1.0bn to £12.3bn (Mar 2022: £11.3bn)\n \n \n - \n Current AUM / AUI at 18 November 2022 c.£12.9bn\n \n \n - \n Tatton's IFA firms increased by 14.7% to 806 (Sep 2021: 703) and the number of accounts increased 20.9% to 98,650 (Sep 2021: 81,600)\n \n \n - \n Paradigm mortgage completions up by 10.6% to £7.3bn (Sep 2021: £6.6bn). Paradigm Mortgages member firms increased by 3.6% to 1,706 members (Sep 2021: 1,646 members)\n \n \n - \n Paradigm Consulting increased its members by 1.4% to 424 (Sep 2021: 418)\n \n \n \n \n \n \n \n \n \n \n \n \n \n Paul Hogarth, Chief Executive Officer...