StockMarketWire.com - Platform provider for financial advisers Tatton Asset Management booked a 17% rise in first-half profit, as it boosted its number of customer accounts.

Pre-tax profit for the six months through September rose to £3.6m, up from £3.1m on-year.

Revenue rose 15% to £9.7m, as discretionary assets under management rose 23% to £7.0bn.

The company declared an interim dividend of 3.2p per share, up 14% on-year.

Tatton Investment Management increased its number of firms to 522, up from 405, and number of accounts to 61,250, up from 53,500.

Chief executive Paul Hogarth said net flows continued to perform well from both existing and new advisers despite an uncertain and volatile market.

'We have also reorganised our independent financial advice base support services businesses under the existing Paradigm brand but with one simplified operational and management structure from which we expect to see improved efficiencies and opportunities in the future,' he said.

'While we are mindful of the current political and macro-economic factors, the group continues to trade in line with the board's full year expectations and the board remains optimistic regarding the prospects of the group.'



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