Business
Preliminary Results
Preliminary Results.
About this update from Tatton Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 8374A Tatton Asset Management PLC 03 June 2019 \n\n3 June 2019\nTatton Asset Management PLC\nPreliminary Results\nFor the year ended 31 March 2019\n \nTatton Asset Management plc (the \"Group\", the \"Company\") (AIM: TAM), the investment management and IFA support services group, today announces its preliminary results for the year ended 31 March 2019.\n \nFinancial Highlights\n· Discretionary assets under management (\"AUM\") increased 24.5% to £6.1bn (2018: £4.9bn)\n· AUM net inflows increased to £1.1bn averaging over £90m per month\n· Group revenue increased 12.9% to £17.5m (2018: £15.5m)\n· Adjusted operating profit1 up 12.3% to £7.3m (2018: £6.5m)\n· Adjusted operating profit1 margin 41.7% (2018: 42.1%)\n· Reported profit before tax increased to £6.1m (2018: £3.6m), after charging exceptional items of £0.5m and share option costs of £0.9m\n· Proposed final dividend of 5.6p, giving a full year dividend of 8.4p\n· Adjusted fully diluted EPS2 increased 9.9% to 10.0p (2018: 9.1p)\n· Strong financial position, with net cash of £12.2m (2018: £10.6m)\n \nOperational Highlights\n· Tatton increased its member firms by 30.5% to 445 (2018: 341) and number of accounts to 58.5k (2018: 48.8k)\n· Tatton won significant long-term investment mandate from Tenet, one of the UK's largest Adviser support Groups (see separate announcement)\n· Tatton won investment mandate with AIM listed financial services company Frenkel Topping (see separate announcement)\n· Tatton launched its new inhouse administration portal, ensuring scalability and supporting future growth\n· Tatton completed project to transfer Authorised Corporate Director (ACD), delivering efficiencies for the Group and decreasing the fund operating costs for end investors\n· Paradigm Mortgages, the Group's mortgage and protection distribution business, increased gross lending via its channels by 23.5% to £8.4bn (2018: £6.8bn)\n· Paradigm Mortgages increased the number of member mortgage firms by 14.1% to 1,392 (2018: 1,220)\n· Paradigm Consultin...