10th May 2016 08:17
LONDON (Alliance News) - Financial services firm Tavistock Investments PLC on Tuesday said it anticipates it will outpace market expectations for the financial year to the end of March.
Tavistock said its posted a small earnings before interest, taxation, depreciation and amortisation loss in the first half to the end of September, but a strong performance in the second half will deliver a profit which will reverse the first half loss.
As a result, the group expects it will deliver an Ebitda profit for the recent full year, ahead of market forecasts.
The company added the acquisition of Abacus Associates Financial Services, agreed in March, will further boost its performance in the current financial year, and it remains committed to starting paying dividends within the next 12 months.
Tavistock shares were up 28% to 5.45 pence Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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