(Alliance News) - Tatton Asset Management PLC on Tuesday said it expects its 2021 financial year results to beat all analyst forecasts after inflows accelerated and its investments performed strongly.
The Cheshire-based investment company said total inflows in the year ended March 31 were GBP755 million, with net inflows of GBP427 million in the second half, 30% higher than in the first half.
Shares were up 9.8% to 415.00 pence in London.
With the addition of a GBP1.5 billion gain from the performance of its investments, assets under management increased to GBP9.0 billion from GBP6.7 billion the year before.
Tatton's mortgage distribution business Paradigm was helped by the stimulus of the UK government's stamp duty holiday and an improved lending environment, with gross lending of GBP11 billion, up from GBP10 billion the previous year.
"Our strong performance proves the resilience of our business model which is supported by a high degree of annual recurring revenues and cash flow generation creating a strong balance sheet which is the bedrock of all good businesses. As we enter the new financial year, we carry forward good momentum and expect to make further progress in the execution of our strategy," Tatton Chief Executive Paul Hogarth said.
By Ivan Edwards; ivanedwards@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Tatton Asset Management (TAM)