Final Results, growth off the chart29 Jul 2021 10:11
Oberon Investments Group plc
("Oberon" or the "Company")
Final Results for the year ended 31 March 2021
A transformational year, with continued strong growth post period end
Oberon, the boutique wealth management and corporate broking group, is pleased to announce its final results for the year ended 31 March 2021.
Highlights
· 237% revenue growth to £3.8m for the year (2020: £1.1m on a 12-month comparable basis)
· Over 340 % increase in Assets under Administration ("AUA") to over £550m (2020: £125m)
· Strong launch of Oberon Capital, driven by new retained clients and fundraisings
· Successful listing on the AQSE Growth Market
· Acquisitions of Hanson Investment Management and Smythe House (completed post financial period end)
· Strengthening of key teams across Fund Management, Compliance and Operations
· Strong cash position £1.9m (2020: £0.8m) and balance sheet at year end
Current Trading and Outlook
· Very strong start to 2021, with record Q1 revenues and maiden EBITDA profit in financial year 2021/22
· AUA growth continues, with over £600m at the end of June 2021
· Continued significant investment in technology and teams
· Continued growth in Oberon Capital:
o Over £30m raised for corporate clients since launch in June 2020
o First IPO was a great success: £3m raised in oversubscribed pre-IPO round; £9.5m raised in oversubscribed IPO; shares began trading at a strong premium
o Strong pipeline of business for the rest of 2021, with further IPOs and fundraisings expected
· New wealth management system, launching in Q2 financial year 2021/22, will provide further improved services for clients, making the wealth management division ever more competitive
· Ongoing talks with a number of new fund management teams which, if successful, would bring significant further AUA to Oberon
Simon McGivern, CEO of Oberon Investments Group, commented: "The results for last year, and in particular the start we have made to the current financial year, continue to exceed our own high expectations. The Oberon platform, with its complementary revenue streams and teams of talented professionals, keeps delivering outstanding returns for our clients.
"Future acquisition opportunities, some potentially transformational, continue to be analysed and negotiated. However, given the base we have now built, we will only consider future deals that complement Oberon's ambitions and integrate into what we are building.
"Year one of Oberon's journey has now been successfully completed; the future destination looks very bright indeed."
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
The directors of Oberon accept responsibility for this announcement.
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