Gresham House PLC Pre-Close Update (7490N)

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RNS Number : 7490N

Gresham House PLC

25 January 2023

25 January 2023

Gresham House plc

("Gresham House", the "Company" or the "Group")

Pre-Close Update

FY 2022 - AUM growth of 20% and performance at the top end of market expectations(1)

Gresham House, the specialist alternative asset manager, is pleased to announce a pre-close trading update for the 12-month period to 31 December 2022.

Highlights

Despite the challenging macroeconomic backdrop, we have continued to make further progress towards delivery of the Group's five-year plan 'GH25':

-- AUM up 20% year-on-year, expected to be at least GBP7.8 billion as at 31 December 2022 (2021: GBP6.5 billion).

-- FY 2022 adjusted operating profit expected to be at top end of market expectations, in excess of GBP26.5 million (2021: GBP20.2 million).

Post period end

-- Announced the launch of the Irish Strategic Forestry Fund targeting EUR200 million including a cornerstone investment by Ireland's sovereign development fund (ISIF). The fund's afforestation plans contribute to Ireland's publicly stated net zero ambitions.

-- Strong start to the Baronsmead Venture Trust plc and Baronsmead Second Venture Trust plc (the Baronsmead VCTs) GBP40 million fundraise (plus a further GBP10 million discretionary over-allotment facility) which follows the successful GBP76 million Mobeus VCTs fundraising in Q4 2022.

Tony Dalwood, Chief Executive of Gresham House, said:

"2022 has brought another year of robust performance by the Group, with strong fund inflows across our asset classes. In spite of highly challenging macroeconomic conditions, we have continued to make good strides against our long-term goals which is testament to the expertise and capabilities of the Gresham House team.

"Our continued delivery of strong investment performance coupled with a core focus on sustainability will allow us to continue to provide successful investment solutions."

(1) Market expectations defined as adjusted operating profit for the year to 31 December 2022 in the range of GBP25.3 million to GBP26.5 million in broker reports that follow Gresham House plc as at 24 January 2023

Ends

For more information contact:

 
 Gresham House plc 
  Tony Dalwood, Chief Executive Officer 
  Kevin Acton, Chief Financial Officer       [phone] 
 Houston - Media and analysts 
  Alexander Clelland                         [e-mail] 
  Kay Larsen                                 [phone] 
  Kelsey Traynor 
 Canaccord Genuity Limited - Nominated 
  Adviser and Joint Broker 
  Bobbie Hilliam 
  Harry Pardoe                               [phone] 
 Jefferies International Limited 
  - Joint Broker 
  Paul Nicholls 
  J ames Umbers                              [phone] 
 

About Gresham House

Gresham House is a specialist alternative asset management group, dedicated to sustainable investments across a range of strategies, with expertise across forestry, housing, sustainable infrastructure, renewable energy and battery storage, public and private equity.

Our origins stretch back to 1857, while our focus is on the future and the long term. Quoted on the London Stock Exchange (GHE:LN) we actively manage c.GBP7.8 billion of assets on behalf of institutions, family offices, charities and endowments, private individuals, and their advisers. We act responsibly within a culture of empowerment that encourages individual flair and entrepreneurial thinking.

As a signatory to the UN-supported Principles for Responsible Investment, we are committed to operating responsibly and sustainably. We believe taking the long view in delivering sustainable investment solutions will continue to be a growing factor in the strength of our market positioning.

www.greshamhouse.com

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January 25, 2023 02:00 ET (07:00 GMT)