An M&A-heavy year saw Tavistock Investment’s revenue jump 14% to £32m ($39.3m, €37.1m) in the 12 months to March 2022, up from £28.7m the previous year.
“This was the most successful trading year in the company’s history and has positioned it well to achieve its strategic objectives,” the firm said.
After rebuffing an unsolicited £15.2m takeover bid in March 2021, Tavistock unloaded its £1bn multi-asset arm to private equity-backed consolidator Titan Wealth in August.
Given the timing of the sale, Tavistock said the multi-asset arm “made a negligible revenue contribution” to its results.
In September, the publication of the full-year results to the end of March 2021 revealed that the company had swung back to profit, having lost £5.5m the year before.
January 2022 saw the firm buy a 21% stake in IFA group LEBC Holdings for £10m. The deal added circa 78,000 clients and £4.2bn of assets under advice.
Five months later, Tavistock announced it had acquired LEBC Hummingbird, an unregulated business that provides research on the assert class allocations to be used within funds and model portfolios.
Chief executive Brian Raven said: “The company has made tremendous progress during the last year, and our current focus is on strengthening our partnerships with both Titan Wealth and LEBC, as well as maximising the benefits from our ownership of Hummingbird. We continue to be acquisitive and look forward to updating shareholders on progress in due course.”
An interim dividend of 0.07 pence per ordinary share has been announced, which is 40% higher than the dividend paid in October 2021.
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