Another record-breaking year of trading for Ravenscroft

RAVENSCROFT has reported another record-breaking year.

Ravenscroft chairman Dominic Jones.
Ravenscroft chairman Dominic Jones.

Trading profits were up nearly 50% at £9.93m., revenue was up by 37% to £39.94m. and assets under management increased by 13% to £8.76bn.

The company, which employs more than 120 people across offices in Guernsey, Jersey, the Isle of Man and the UK, brought in more than £300m. from new clients over the year and continued to expand its range of investment funds, with the onshore launch of the Cautious Income and Growth funds and the Diverse Property Income Fund, which is part of its Specialist Fund Management offering.

The company’s share price at the end of the year was up 36% at £8.50 and it has now risen to £8.75. Shareholders stand to receive a 17p dividend per share, following a 10p dividend paid in the first half of 2021.

‘A year ago, there was the general expectation that, by now, things would have largely returned to normal, and while there have been steps in the right direction, there has still been a great deal of uncertainty,’ said chairman Dominic Jones, who was appointed in July following majority shareholder Stephen Lansdown’s retirement from the board.

‘Our clients’ and shareholders’ interests are at the centre of everything we do, so to once again reach many of our performance targets and deliver this level of value is testament to the incredible efforts of all of our teams.’

Ravenscroft chief executive officer Jon Ravenscroft thanked clients and staff.

‘This year has not been without its challenges, but thanks to the loyalty of our clients, trust from our shareholders and commitment and effort from our dedicated staff, we’re pleased to be able to report another record-breaking year for the group,’ he said.

‘We’ve seen strong growth across almost the entirety of the business and I am confident that this trend will continue in the coming years.’

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