10th Dec 2025 16:44
(Alliance News) - WH Ireland Group PLC on Tuesday said revenue fell in the first half of the year as assets under management declined.
The London-based wealth-management firm said revenue dropped 21% to GBP4.2 million in the six months to the end of September from GBP5.3 million a year ago.
Discretionary and advisory assets under management was down 11% to GBP680 million from GBP760 million while group assets under management declined 12% to GBP970 million from GBP1.1 billion.
WH Ireland said both revenue and assets under management are expected to fall further before the end of the 2026 financial year as clients from the Henley office transition away from the business.
In February, WH Ireland said it will close its loss-making Henley office by May as it enters an agreement to allow Verso Wealth Management Ltd to market its services to some Henley clients.
The firm said it remains loss making on a standalone basis, with an underlying pretax loss of GBP600,000 and a statutory pretax loss of GBP900,000.
WH Ireland said it expects earnings per share for the period to be a loss of 0.38 pence, narrowed from a loss of 0.53p a year prior.
At the end of October, discretionary and advisory assets under management was GBP650 million, reflecting net outflows of GBP25 million and GBP5 million of losses from investment performance.
WH Ireland said it expects to publish its interim results before the end of December.
Last month, Team PLC said it will buy WH Ireland in a GBP12.7 million all-share deal.
Team is a Jersey-based wealth, asset management and complementary financial services company.
The takeover is expected to become effective in the first quarter of 2026. The court and general meetings to approve the deal will take place on January 8.
Shares in WH Ireland ended flat at 3.85 pence in London on Wednesday.
By Michael Hennessey, Alliance News reporter
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