18th Jun 2024 10:45
(Alliance News) - Tatton Asset Management PLC on Tuesday said it outperformed its three-year strategy achieving the highest-ever levels of assets under management, revenue and pretax profit.
The Cheshire, England-based firm offers clients a wide range of services including fund management, regulatory, compliance and business consulting services.
In the financial year that ended March 31, pretax profit rose 4.7% to GBP16.8 million from GBP16.0 million the previous year, as revenue increased 14% to GBP36.8 million from GBP32.3 million.
Tatton declared a final dividend of 8.0 pence per share, down 20% from 10.0p, although the total dividend for the year was up 10% to 16.0p from 14.5p.
Despite ongoing political and economic challenges, Tatton produced its strongest-ever results, it said. The year marked the end of the three-year growth strategy it announced in 2021. Through organic growth and strategic acquisitions, the company hoped to increase AuM to GBP15 billion from GBP9 billion.
Over the recent year, assets under management and influence increased 27% to GBP17.60 billion from GBP13.87 billion, beating this objective. Since March 31, AUM/I increased to GBP18.56 billion as at June.
Looking ahead, Tatton said it wants to grow AUM/I to GBP30 billion by the end of financial 2029.
Chief Executive Officer Paul Hogarth said: "We are very optimistic about our growth trajectory and the opportunities that lie ahead...Our focus will remain on maintaining organic growth, improving operational efficiency, and fulfilling our commitments to our stakeholders. We are confident that our strategic approach, coupled with our dedication to excellence, will lead to continued success."
Tatton said it has seen net inflows of about GBP900 million in the first quarter of financial 2025. In financial 2024, the first two quarters combined produced net inflows of GBP910 million.
Tatton shares were up 3.5% to 620.85 pence each in London on Tuesday morning.
By Elijah Dale, Alliance News reporter
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