7th Sep 2021 12:03
Tavistock Investments PLC - Bracknell-based investment manager - Reports revenue of GBP28.7 million in the 12-months ended March 31, down 0.3% from GBP28.8 million a year prior. Swings to pretax profit of GBP949,000 from a GBP5.7 million loss the year before. Sees earnings per share reach 0.13 pence in financial 2021, from a 0.95p loss the previous year. Declares 0.05p interim dividend, five times larger than its 0.01p maiden dividend in 2019.
Notes potential share buyback, after receiving the initial GBP20 million in proceeds from its Tavistock Wealth sale. Plans to repurchase up to 10% of shares in issue for a maximum cost of 5% above mid-market price.
Plans to improve operational efficiency and accelerate its acquisition programme in the new financial year. Notes unaudited revenue of GBP6.9 million in the first quarter of its current financial year, up 28% year-on-year from GBP5.4 million.
Current stock price: 4.57 pence, up 1.6% on Tuesday morning
Year-to-date change: up sharply from 1.40p
By Scarlett Butler; [email protected]
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