12 Jan 2021 07:00
12 January 2021
Curtis Banks Group plc
("Curtis Banks" or "the Group")
Trading Update
Curtis Banks (AIM: CBP), one of the UK's leading SIPP providers, today provides an update on its trading performance for the twelve months ended 31 December 2020.
Despite the disruption caused by the COVID-19 pandemic, the Group delivered a robust trading performance throughout 2020, both operationally and financially.
Strategically, the Group completed the acquisitions of Talbot and Muir, a high-quality provider of SIPP and SSAS schemes, and Dunstan Thomas, a leading FinTech provider, and announced a new fee charging structure for clients.
In 2021 and beyond, these initiatives will reduce the proportional contribution of interest income to total revenue and improve the overall quality and diversity of earnings across the Group.
Will Self, Chief Executive Officer of Curtis Banks, commented: "Despite the challenging environment we refused to be downbeat and remained focused on our growth strategy. As a result, we managed to execute key strategic initiatives and deliver a strong and robust performance in 2020.
"Looking ahead, we will continue to build a business that looks set to benefit from macro-trends, namely greater numbers of UK savers and an ageing population. Building upon our success as one of the UK's leading SIPP providers, we will continue to develop the business through enhancing our service to our clients and advisers, greater diversification of revenue streams and the targeting of improved operating profit and quality of earnings.
"We are building a strong platform for growth and look ahead with confidence and continued optimism."
The Group will announce its full year results on 18 March.
For more information, please contact:
Curtis Banks Group plc via Instinctif Partners
Will Self - Chief Executive Officer
Dan Cowland - Chief Financial Officer
Peel Hunt LLP (Nominated Adviser & Joint Broker) +44 (0) 20 7418 8900
James Britton
Rishi Shah
Nplus1 Singer Capital Markets Limited (Joint Broker) +44 (0) 20 7496 3000
Mark Taylor
Rachel Hayes
Instinctif Partners (Financial PR) curtisbanks@instinctif.com / +44 78 3767 4600
Ross Gillam
Lewis Hill