StockMarketWire.com - Tavistock Investments has reported a post-tax loss of £864,000 (FY13: loss of £516,000) for the fifteen months ended March 2015.

The period under review was one of construction and the results include 15 months of overhead costs for the Group's holding company, Tavistock Investments, 10 months of trading for each of Tavistock Partners and Tavistock Wealth and six weeks of trading for Standard Financial Group, as well as certain associated transaction and fundraising costs.

The Group was established in May last year through simultaneous acquisitions of Tavistock Partners, an Independent Financial Advisory (IFA) business, and Tavistock Wealth, an investment management business.

Standard Financial Group which increased geographic reach and operational scale was acquired in February 2015 and the acquisition of Cornerstone Asset Holdings took place in March.

Since the year end it has acquired Duchy Independent Financial Advisers to increase its presence in the West Country.

There are over 270 advisers, looking after approximately 65,000 clients with over £3bn of assets under advice.

Brian Raven, Tavistock Investment's chief executive, commented: "We have made significant progress this year towards our ambition to become a large and profitable financial services group, by establishing a strong, national financial advisory and investment management business.

"Over the coming year, our key focus will be on full integration of the firms we have acquired and ensuring the right infrastructure is in place to grow the company profitably and rapidly.

"We aim to deliver organic growth as well as continue to pursue selective acquisitions that meet our strategic criteria."


At 9:21am: [LON:TAVI] Tavistock Investments Plc Ord 0.01p share price was -0.25p at 5.63p



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