Ravenscroft continues to ‘grow and thrive’
RAVENSCROFT has continued to thrive in the first half of 2019, according to its group managing director.
Mark Bousfield said that assets under management, revenue and profitability had all grown substantially at the investment services group in the six months up to 30 June of this year compared to the same period last year.
Revenue increased by 39% to £14.4m. compared to £10.35m. as of 30 June 2018. Meanwhile, trading profit was up by 99% to £4.14m. compared to £2.08m. as of 30 June 2018. Total assets under administration rose by 57% year on year to £7.36bn with the figure being £4.68bn on 30 June 2018.
Writing in Ravenscroft Holdings Ltd’s unaudited interim report covering the first half of 2019, Mr Bousfield said: ‘I am delighted to report that Ravenscroft has, in addition to our much-publicised move into our new Guernsey headquarters, continued to grow and thrive over the first six months of 2019.
‘The multi-jurisdictional growth of our business is testament to the hard work of our staff and their unwavering focus on our clients and their needs.
‘It is also in no small part thanks to the support of our clients and shareholders, during what has been a period of heightened economic and political uncertainty.’
Highlights included BullionRock (Ravenscroft Precious Metals Limited) seeing ‘a flurry of new business as investors seek a familiar haven for their cash, or look to diversify their existing investments’.
The firm’s advisory broking team had also assisted in raising funds for the listing of SandpiperCI Group Limited on The International Stock Exchange.
‘Our corporate finance team has continued to identify niche opportunities within the Channel Islands and in late 2018 launched a new investment vehicle, the RED fund, which is mandated to invest into commercial and residential property opportunities in the Channel Islands. The fund hit the ground running this year and has already made a number of investments and is actively investigating a significant number of further proposals,’ added Mr Bousfield.
‘We continue to invest into, and build upon, our operating infrastructure which will provide for a superior client experience in the future, coupled with greater scalability for the business.
‘Whilst it seems inevitable that chaotic times are ahead of us in terms of the changing political environment, Ravenscroft remains clear and steadfast in its ambition to provide high quality investment services to a broad array of clients across a number of jurisdictions.’
