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Curtis Banks profit up but SIPPs down; Will Self to be new CEO

Thu, 06th Sep 2018 09:33

(Sharecast News) - AIM-listed financial services company Curtis Banks posted a 17% rise in interim pre-tax profit on Thursday as operating revenue grew but the number of new SIPPs in the period fell.In the six months to 30 June, pre-tax profit rose to £4.8m from £4.1m in the first half of 2017, with operating revenue up 7.5% to £23m and assets under administration 9% higher at £25.1bn.However, the number of new SIPPs declined to 3,512 from 4,534, with the company attributing the drop to a number of industry-wide factors. It said there has been a widely acknowledged slowdown in new pension transfers largely considered to be caused by the wider economic uncertainty.More specifically, Curtis has seen some advisers retrench from the pension transfer sector where elements of their business were exposed to defined benefit transfers as well as increased regulatory scrutiny of all regulated transfer activities. Chief executive officer Rupert Curtis said: "We made good progress during the first half of the year and these results show encouraging growth in profits during a period in which we concentrated on completing our consolidation activities and preparing the launch of our new SIPP proposition."We have focused on further investment in the business to support continued organic growth and build on our position as the UK's largest dedicated SIPP provider. This has involved developing a new sales team and a new SIPP proposition, both of which will be operating in the second half of this year." The company also announced that Wilf Self will take over from Rupert Curtis in January 2019. Deputy CEO Self has been a member of the board since 2016, having worked in the sector for more than 15 years.At 1525 BST, the shares were down 0.7% to 281.90p.
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26 Apr 2018 16:47

UPDATE: Curtis Banks Management Sells 13% Stake Through Placing (ALLISS)

LONDON (Alliance News) - Curtis Banks Group PLC said on Thursday its management sold 7.1 million shares at a price of 280.25 pence per share, at a total of GBP20.0 million.Shares in the 10%

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26 Apr 2018 11:48

Curtis Banks Management To Sell 13% Stake Via Placing (ALLISS)

LONDON (Alliance News) - Curtis Banks Group PLC said on Thursday that its management intends to sell 7.1 million shares at a price of 280.25 pence per share, at a total of GBP20.0 in the financial

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15 Mar 2018 12:24

Curtis Banks Hikes Payout As 2017 Revenue And Profit Advance By Third

LONDON (Alliance News) - Self-invested personal pension provider Curtis Banks Group PLC hiked its dividend by 56% on Thursday after profit and revenue grew by a third in 2017,

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9 Nov 2016 17:19

DIRECTOR DEALINGS: Curtis Banks Director Steve Hart Buys Shares

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8 Nov 2016 16:05

UK Dividends Calendar - Next 7 Days

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1 Nov 2016 16:13

Director dealings: IHG boss's wife checks out, Curtis and Banks eye bargain

(ShareCast News) - The wife of Intercontinental Hotels chief executive, Richard Solomons, has sold almost £1.2m worth of shares in the company despite the confident language employed by her husband in recent weeks. Karin Solomons sold 37,340 shares at a price of 3,156.69p, a drop in the ocean of the

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6 Sep 2016 08:55

Curtis Banks reports growth in first half following successful acquisitions

(ShareCast News) - Past acquisitions drove a sharp increase in operating revenues at Curtis Banks Group, a provider of self-invested personal pensions (SIPPs) and small self-administered schemes (SSAS), even as the company adjusted to the impact from lower interest rates. Operating revenues increase

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31 Aug 2016 09:09

Curtis Banks Appoints Suffolk Life CEO Self As Executive Director

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20 Jun 2016 15:02

UK Shareholder Meetings Calendar - Next 7 Days

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15 Mar 2016 10:48

Curtis Banks Wants Margin Protection When Making Acquisitions

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8 Mar 2016 16:08

Earnings, Trading Statements Calendar - Week Ahead

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19 Feb 2016 16:09

Dividends Calendar - Week Ahead

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28 Jan 2016 15:25

Curtis Banks announces maiden dividend

(ShareCast News) - A small reward for Curtis Banks shareholders came on Thursday, with the announcement of the company's maiden dividend. The AIM-traded self-invested personal pension provider announced the interim dividend of 3.5p per ordinary share, to be paid on 26 February 2016. "Curtis Banks h

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28 Jan 2016 11:11

Curtis Banks Declares Maiden Interim Dividend For 2015

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25 Jan 2016 09:38

CORRECT: DIRECTOR DEALINGS: Curtis Banks Non-Executive Buys Shares

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