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Tavistock Investments profits to soar after first half that 'couldn't have gone much better'

Brian Raven

Brian Raven, fund manager Tavistock Investments PLC's (LON:TAVI) chief executive, says the growing momentum in their discretionary funds business can see profits jump to £5mln in the not too distant future.

Tavistock swung into profit in the first half and has forecast more to come as funds under its management more than doubled. The launch of three new funds under its Acumen brand helped the amount under management rise by 130% to £745mln.

Revenues in the discretionary business, which fully manages investors’ money, was £1.52mln in the six months compared to £1.66mln for the whole of the previous year.

 

Quick facts: Tavistock Investments PLC

Price: 2.2 GBX

AIM:TAVI
Market: AIM
Market Cap: £12.66 m
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Tavistock Investments in a strong position after reporting maiden pre-tax profit

Brian Raven, chief executive of Tavistock Investments PLC (LON:TAVI),  discusses with Proactive Investors their results for the year to the end of March 2018. The financial services group reported a maiden pre-tax profit of £221,000, while underlying earnings (EBITDA) jumped 132% to...

on 27/6/18

2 min read