Tatton Asset Management revenue increases 25.7% to £29.3m

Tatton Asset Management shares were up 0.4% to 421p in early afternoon trading on Wednesday, after a reported 25.7% increase in group revenue to £29.3 million in FY 2022 against £23.3 million in FY 2021.

The company announced an adjusted operating profit climb of 27.4% to £14.5 million compared to £11.4 million the last year, alongside an adjusted operating profit margin of 49.5% from £48.8%.

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Tatton Asset Management noted an increase in Assets Under Management (AUM) of 26% to £11.3 billion from £8.9 billion, with an organic net inflow growth to £1.2 billion compared to £755 million, representing a rise of 14.2% of opening AUM with an average run rate of £106 million per month.

The firm also accomplished several acquisitions, with the £650 million purchase of Verbatim funds in September 2021 and a five-year partnership with Fintel, which is set to provide Tatton with access to 3,800 firms and over 6,000 users.

The company also acquired 8AM Global Limited, which is primed to add an additional £800 million in assets.

Tatton Asset Management further boosted its ethical portfolios by 84.1% to £812 AUM compared to £441 AUM.

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The group confirmed a strong financial liquidity position, with net cash at £21.7 million compared to £16.9 million and a balance sheet including a net assets growth of 27.3% to £31 million from £24.4 million in the previous year.

“I am delighted to report on yet another successful year for the Group, as we continue to execute our stated strategy and deliver strong organic and acquisitive growth for FY22,” said Tatton Asset Management CEO Paul Hogarth.

“The geo-political and financial market volatility of the past year has highlighted that both our divisions are resilient and robust businesses with an attractive outlook as they continue to benefit from a consistent and sustainable business platform.”

Tatton Asset Management added that despite market headwinds, the company was in a strong position to grow and make progress in FY2023, and highlighted a minimum goal of £1.7 billion in growth.

“As we look forward to FY23, our strategic emphasis will be to consolidate and build on the gains we have made to date whilst further developing the business to drive growth and long-term value creation,” said Hogarth.

“We continue to focus on and take a disciplined approach to executing our strategy and I remain excited about the opportunities that exist for the Group.”

“While we remain conscious that these are uncertain times, both from an economic and geo-political standpoint, we are well positioned to make further progress in the year ahead and better equipped than most to deal with any prevailing market headwinds.”

The group announced an adjusted fully-diluted EPS rise of 26.3% to 18.6p against 14.7p and a dividend uptick of 13.3% to 8.5p from 7.5p for the financial year.

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