16th Jun 2020 12:42
(Alliance News) - Investment management firm Tatton Asset Management PLC on Tuesday reported a double-digit revenue rise and boosted its annual payout.
In the year ended March 31, Tatton's revenue rose 22% to GBP21.4 million from GBP17.5 million.
Its pretax profit surged 68% to GBP10.3 million from GBP6.1 million.
Discretionary assets under management were 9.6% higher at GBP6.65 billion from GBP6.09 billion.
"I am pleased to report another year of progress for the group, in this our third year as a PLC. Despite a complex macro backdrop, we have continued to perform strongly and delivered against all the challenging targets we set ourselves at the time of our IPO," Chief Executive Officer Paul Hogarth said.
Tatton boosted its final payout by 14% to 9.6 pence per share from 8.4p, despite the Covid-19 pandemic which has seen many London-listed firm slash, postpone or cancel payouts.
"The Covid-19 pandemic has impacted all businesses to varying degrees. The board of Tatton Asset Management is pleased to report that, whilst the group's performance has been affected, the group operates in resilient markets and the directors believe the fundamentals of the business and its route to market remain strong and relevant in these unprecedented times," the company said.
Shares in the company were 0.3% lower at 294.00p each in London on Tuesday afternoon.
By Eric Cunha; [email protected]
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