Tatton Asset Management announces maiden prelims

Tatton Asset Management, the on-platform discretionary fund management and support services business for IFAs, has issued its maiden Preliminary Results for the year ended 31 March 2018.

Tatton floated in July 2017 and in a statement today, said it had had a transformational year.

Financial highlights:

  • discretionary AUM increased 25.6% to £4.9bn (2017: £3.9bn);
  • average AUM inflows of over £80m per month maintained;
  • group revenue increased 30.7% to £15.5m (2017: £11.9m);
  • adjusted operating profit up 44.7% to £6.5m (2017: £4.5m);
  • adjusted Operating profit margin increased to 42.1% (2017: 38.0%);
  • reported profit before tax increased to £3.6m (2017: £2.0m), after charging exceptional items of £2.0m and share option costs of £1.0m;
  • final dividend of 4.4p giving a full year dividend of 6.6p;
  • adjusted EPS2 increased 49.5% to 9.6p (2017: 6.5p);
  • net cash of £10.6m (2017: £nil).

Paul Hogarth, Chief Executive Officer, said: “I am delighted to report our maiden results since our successful IPO in July last year. We have continued the strong growth we announced at the half year, delivering a valuable 25.6% increase in discretionary assets under management and a strong underlying performance across each of our three businesses. Post the year-end, we have surpassed a significant milestone – £5 billion of discretionary AUM – which is a considerable achievement for the team. 

“There is unprecedented demand for a low cost DFM service to the mass affluent served by the IFA sector, and we continue to capitalise on this. We are challenging existing off platform, traditional incumbents, and working closely with increasing numbers of IFAs in providing the mass affluent with an investment portfolio management service that is pushing the envelope. We are pleased with the progress we are making and excited at the opportunities ahead. The outlook for the Group remains positive and l look forward to providing a further update in due course.”

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