StockMarketWire.com - Wealth manager Tavistock Investments reported an increase in gross revenue for the six months to the end of September 2019, to more than £14.3m.

Gross profit rose to £5.8m, up from £5.7m a year earlier. Tavistock's funds under management (FUM) rose above £1.1bn, the 18th consecutive quarter of growth and 49% higher than two years ago.

Average gross revenue remained steady at 0.51% of FUM value a year.

Chief executive Brian Raven said: "We see these results as particularly encouraging given the backdrop of political uncertainty and the market headwinds that have impacted our industry and the country.

"Our investment management business and our work with key partners have continued to play an essential role in our success and profitability. It is difficult to predict how markets will react and how investors may behave in the months ahead.

"Political events might have a significant impact on our business, however, we believe our commitment to developing strong partnerships, as well as broadening our investment proposition, will drive further growth."


At 9:40am: [LON:TAVI] Tavistock Investments Plc share price was 0p at 2.2p



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