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Tavistock Investments achieves performance turnaround

Last updated: 07:39 19 Dec 2023 GMT, First published: 15:09 22 Dec 2020 GMT

Snapshot

  • Tavistock Investments posts a profitable first half, robust team growth
  • Tavistock Investments CEO very optimistic on year ahead as first quarter beats expectations
Tavistock

About the company

Tavistock Investments PLC is a financial services group which before the acquisition of Precise Protect had more than 200 advisers and other business introducers across the UK.

In early 2023, Tavistock acquired Precise Protect, a profitable and fast-growing insurance and protection business based in Bangor, Northern Ireland.

Precise Protect has a network of over 200 advisers working with more than 37,000 UK clients, with an average age of under 40.

How it is doing

19 Dec 2023

Tavistock Investments PLC (AIM:TAVI) enjoyed robust growth and operational success in the first half of its financial year, with revenues climbing by 19% yearly to £20.6 million on top of a gross profit of £7.7 million.

Adjusted earnings rocketed twelvefold to £1.7 million and earnings per share flipped from an interim loss in the first half of 2022 to 0.04p this year.

Though cash resources fell 73% year on year to £2.6 million, Tavistock announced a post-period deferred consideration payment from Titan Wealth Services which increased the group's cash resources by around £5 million.

The company paid an interim dividend of 0.07p per share in December 2023, maintaining the same level as the dividend paid in July 2022.

29 Sep 2023

Tavistock Investments PLC (AIM:TAVI) posted gross revenues of £34 million for the financial year ending March 31, matching top-line results from the previous year.

The vast majority – 96% – of gross revenues was generated by Tavistock’s advisory business, where gross profits increased 6% to £10.6 million.

11 Apr 2023

Tavistock Investments PLC (AIM:TAVI) said it is acquiring Precise Protect Limited, a fast-growing insurance and protection business based in Bangor, Northern Ireland, for up to £7mln.

Precise Protect has a network of over 200 advisers working with more than 37,000 UK clients.

What management says

24 Jul 2020

Tavistock Investments PLC's (LON:TAVI) Brian Raven tells Proactive the fund management group increased assets under management for the sixth year running in the period to end-March 2020. Funds under management had risen by 6% to £1bn in the period while underlying profits jumped 24% over the year to £1.83mln. Raven says the performance of its ACUMEN Protection Portfolios has been exceptional and underpinned the profitability of the investment management business.

Proactive Research

24 Oct 2016

Tavistock Investments (Ticker: TAVI) is an AIM market listed financial services group, the principal activities of which are investment management of financial assets and a financial advisory network of Independent financial advisers (IFAs).

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