Tatton Asset Management shares jump as firm reveals two contract wins
Shares in Tatton Asset Management jumped this morning after the firm reported boosted profit and revealed its investment arm has secured two new contracts.
Tatton’s shares are up 5.88 per cent after the company announced that adjusted operating profit was up 12.3 per cent to £7.3m in the financial year to the end of March, and that revenue jumped 12.9 per cent to £17.5m.
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Assets under management also rose by 24.5 per cent and adjusted earnings per share were up 9.9 per cent to 10p.
The firm also announced that Tatton Investment Management has been appointed by financial advisory firm Tenet to provide a managed portfolio service for three years.
Tatton has also been appointed by Frenkel Topping as an investment manager for Ascencia Investment Management.
Tatton Investment Management chief executive Lothar Mentel said:“Our investment process of balancing low cost, risk managed long term returns is a highly compelling combination for advisers seeking an investment solution for their clients that supports their business.”
“The group is strategically well positioned, and we continue to reinforce our status with strong organic growth,” Roger Cornick, chairman of Tatton, said.
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“As we enter the new financial year, we look to build on the success achieved to date and deliver continued sustainable growth through further investment, efficient operations and customer service, as well as delivering continued returns to our shareholders through a progressive dividend policy. “