Ravenscroft see 40% increase in turnover in 2014

Posted: 14/04/2015

Ravenscroft saw a 40 per cent increase in turnover last year according to its 2014 results published last week.

The company, which is the only locally-owned independent stockbroking and investment management company in the Channel Islands, saw turnover grow from £8.1 million at the end of 2013 to £11.37 million at the end of 2014.

Profit before tax increased 55 per cent to £2.35 million with assets under administration increasing 26 per cent to £1.62bn.

The board is proposing an eight pence per share dividend to shareholders in addition to the four pence interim dividend, three pence more in total than was paid in 2013.

In the annual report, Ravenscroft highlights a number of significant achievements during 2014. As investment manager to Bailiwick Investments and the Channel Islands Property Fund, Ravenscroft was involved in a number of major transactions. These included the sale of the trust and fund administration businesses of Legis Group Holdings, the acquisition of Aircraft Servicing Guernsey, the raising of £42 million in equity and bank finance to acquire Jacksons CI Group and the raising of £51 million in equity and bank finance to acquire Glategny Court in Guernsey and 40 Esplanade in Jersey.

Ravenscroft itself also acquired a 75 per cent stake in A Vartan, a Peterborough-based private client stockbroker with £282 million worth of assets under administration.


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