- Tavistock Investments said its recent acquisition of Abacus will significantly enhance the Group's performance in the current financial year and the Board remains committed to the introduction of a dividend stream for the benefit of shareholders within the next 12 months.

"To ensure the availability of sufficient distributable reserves to pay dividends, the Board plans to begin the Court process of offsetting accumulated losses (principally attributable to the historic discontinued SocialGo business) against the credit balance on the share premium account," it said in a statement.

It now has assets under influence of an estimated GBP4bn, and assets under management, whether discretionary or advisory, of more than GBP430m.

About 75% of the Group's net revenues are represented by recurring income, future performance has become significantly more predictable.

CEO Brian Raven commented:

"We have made remarkable progress in the two short years since completing our initial transactions, and this would not have been possible without our exceptional management and staff.

"With more than £9 million of net assets, including cash resources of over £3 million, we are well positioned to capitalise on the opportunities available to us. We look forward to the continuation of our rapid progress in the year ahead."

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