We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tavistock Investments Plc | LSE:TAVI | London | Ordinary Share | GB00BLNMLS43 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.15 | 3.45% | 4.50 | 4.00 | 4.70 | 4.625 | 4.35 | 4.35 | 155,000 | 16:35:25 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 33.95M | -1.4M | -0.0025 | -17.40 | 24.38M |
TIDMTAVI
RNS Number : 9466P
Tavistock Investments PLC
14 February 2019
Tavistock Investments Plc
("Tavistock", or the "Company")
Pre-Close Trading Update
14 February 2019
Tavistock Investments Plc (AIM-TAVI) provides investors with a trading update
During the current financial year, headwinds, in the form of Brexit uncertainties, difficult global financial market conditions and investor anxiety, have slowed the pace at which the Company has been able to grow FUM (funds under discretionary management) and hence profitability. Unlike many competitors, FUM is increasing year on year and earnings (EBITDA) are expected to grow significantly, just not to the level management had hoped.
Whilst the Company's results for the current year will be lower than previously anticipated, they will still demonstrate meaningful growth and management retain their stated ambition to pay a maiden dividend.
Great strides have been made in the development of the business during the year, with the launch of two new protected products and significant investment in the development of i-stock, the Company's D2C smartphone app. Strategic partnerships have also been signed with Lighthouse Group and the Law Society. All of these initiatives are expected to bear fruit during the next financial year.
The new funds are protected by high watermark contractual guarantees from Morgan Stanley & Co International plc. Initial market response to these funds has been extremely positive and the current challenge is to organise distribution to the widest possible audience, to which end considerable progress is being made.
In November, the Company announced the creation of Tavistock Law, the only financial advice business in the UK to have received an endorsement by the Law Society. Its focus is on assisting solicitors engaged is trust and in court of protection work, where investment in Tavistock's protected funds would often be particularly beneficial.
In December, we announced a strategic alliance with Lighthouse Group plc (AIM; LGT) to establish an investment management service. This business will distribute the capital protection products under the Luceo brand (Lighthouse's proprietary range of investment solutions) to clients of Lighthouse through their adviser base.
It is estimated that Lighthouse Group currently has some GBP5 billion of assets under advice and places about GBP1 billion of new investment and pension fund investments on behalf of clients each year. The process of engaging with Lighthouse's 400 advisers has now begun and prospects are most encouraging.
The Company's direct to consumer smartphone app, i-stock, will be launched by year end. This will provide customers with the ability to open both ISA and general investment accounts to invest in a protected portfolio with a 90% guarantee underwriting its highest ever value.
Progress achieved with the initiatives referred to above means that the Company is well positioned for continued growth next year and its prospects remain excellent.
ENQUIRIES
Tavistock Investments Plc
Oliver Cooke / Brian Raven +44 (0)1753 867000
Arden Partners Plc - Nominated Adviser
Paul Shackleton +44 (0)20 7614 5900
Allenby Capital Limited - Broker
Nick Naylor / Nick Athanas +44 (0)20 3328 5656
Vested - PR Partner
Elspeth Rothwell +44 (0)20 3890 8118
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
TSTLLFFDFDIVLIA
(END) Dow Jones Newswires
February 14, 2019 02:00 ET (07:00 GMT)
1 Year Tavistock Investments Chart |
1 Month Tavistock Investments Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions