Source - Alliance News

Tavistock Investments PLC on Thursday said trading in the first five months of its financial year, which ends March 31, has been ‘significantly’ ahead of the equivalent period last year.

Tavistock Investments is an Ascot, England-based investment manager. Shares in the firm were up 20% at 5.68 pence each in London on Thursday morning.

For the five months to August 31, gross revenue rose by 19% to £17.2 million from £14.5 million a year prior. Gross margin increased by 40% to £6.7 million from £4.8 million.

Tavistock also posted earnings before interest, tax, depreciation and amortisation of £1.6 million, swung from a loss of £140,000 a year previous.

Reflecting on its recent acquisition of Precise Protect Ltd, the company said the Bangor, Northern Ireland-based protection business had been ‘successfully integrated’. Looking ahead, Tavistock expects Precise Protect to be ‘a major contributor’ to the future profitability of the group.

Tavistock declared an interim dividend of 0.07 pence per share.

‘The board’s focus continues to be on optimising the operating structure of the group and delivering value to shareholders through continued growth. We remain ambitious and acquisitive and look forward to updating shareholders on progress in due course,’ said Chief Executive Brian Raven.

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