RE: Opinions10 Jun 2021 08:31
Outlook and dividend
· The Group believes that existing active client levels are likely to be sustainable as the characteristics of clients onboarded during the year are comparable to our current high value client base, with longevity and trading activity at similar levels to prior cohorts.
· The monthly active client base has remained strong at the start of 2022 representing ongoing trading appetite, however client trading activity has moderated from prior elevated levels. Nevertheless, the Group continues to have confidence in the robust underlying performance of the business and in conjunction with further progress on its strategic initiatives, looks forward to continuing to generate long term business growth and value. As a result, the Board remains confident in achieving net operating income in excess of £330 million for 2022.
· The Group's significant investment in technology development, including the build of a non-leveraged trading platform for UK clients, is expected to lead to a moderate increase in operating costs in the coming financial year.
· Final dividend of 21.43 pence per share (total dividend of 30.63 pence per share), in line with the dividend policy. The Board remains committed to paying a total dividend of 50% of profit after tax, balancing investing in long-term success and providing shareholders with superior returns.