18th Sep 2025 14:17
(Alliance News) - Tavistock Investments PLC on Thursday said the financial services sector was "failing to cater for 91% of UK adults," as its annual adjusted earnings fell amid lower revenue.
Ascot, England-based financial advice and investment management firm said it swung to a pretax profit GBP6.7 million in the financial year ended March 31, from a loss GBP1.3 million year prior.
Adjusted earnings before interest, tax, depreciation and amortisation fell 21% to GBP1.8 million from GBP2.2 million.
Revenue fell 17% to GBP32.6 million from GBP39.5 million.
Cost of sales decreased 20% to GBP19.9 million from GBP25.0 million, while administrative costs increased 46% to GBP21.7 million from GBP14.9 million.
Notably, Tavistock reported a gain on sale of GBP20.0 million in financial 2025, with nothing comparable a year prior.
Chief Executive Brian Raven said: "This has been a year of strategic transformation for the company. Financial Conduct Authority research confirms that the financial services sector is failing to cater for 91% of UK adults. We believe that this must change, and financial services should work for everyone, not just the privileged few. I am delighted that we have persuaded like-minded businesses to join us and acquired technology platforms, that make appropriate use of artificial intelligence, to support qualified professionals. We look forward to providing many more people with financial peace of mind."
Tavistock shares were 7.1% lower at 5.20 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Tavistock