Business
Final Results
Final Results.
About this update from Tavistock Investments Plc
[{"type":"text","content":"\n \nRNS Number : 2032D Tavistock Investments PLC 05 July 2016 \n\n \nTAVISTOCK INVESTMENTS PLC\nRESULTS FOR THE YEAR ENDED 31 MARCH 2016\n \n5 JULY 2016\n \nTavistock Investments Plc (\"Tavistock\" or \"Company\") today announces its financial results for the year ended 31 March 2016.\n \nThe period under review represents the first full year of trading for Tavistock as a financial services group and Group performance has been substantially ahead of market expectations1. \n \nFinancial Highlights:\n \n· Total revenue of £29.9 million (2015: £5.0 million), £10 million ahead of market expectation\n \n· Adjusted EBITDA (removing acquisition costs and share based charges) of £103,000 (2015 loss: £352,000), some £800,000 ahead of market expectation\n \n· Net assets of £8.9 million (2015: £11.42 million), including £3.4 million of cash (2015: £4.74 million)\n \n· In excess of £4 billion of assets under influence (AUI) and £460 million of assets under management (AUM)\n \n· As approximately 75% of the Group's net revenues are represented by recurring income, future performance has become significantly more predictable\n \n \nOperational Highlights:\n \n· Marked improvement in Group performance in the second half of the year, largely a reflection of the successful restructuring of the Tavistock Financial business\no all of the Group's operating businesses are now trading profitably\n \n· Range of risk rated model portfolios within Tavistock Wealth's Centralised Investment Proposition have consistently outperformed relevant sector benchmarks since inception (October 2014) as a result of asset class diversification, use of index tracking instruments and currency hedging\n \n· Rollout of the Group's new software support system, \"Revolution\", to automate and record all aspects of an adviser's relationship with their client; enhances the Company's management and oversight of advisers' activities\n \n· Advisory businesses currently operate with more than 320 advisers supporting ...