Annual reports


2017 Results

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“The Group’s revenue market share over the year, excluding interest, also hit a record high and we won eight industry awards, including Investment Trends’ prestigious award for ‘Overall Client Satisfaction’ for the third consecutive year.”

HIGHLIGHTS

FINANCIAL

  • Revenue market share excluding interest (*) reached 12.81% (2016: 9.85%)
  • Revenue up by 28% to £18.7m (2016: £14.6m).
  • Assets under administration increased by 27% to a record £4.7bn (2016: £3.7bn)
  • Operating losses reduced by 41% to £0.8m (2016: £1.3m)
  • Profit before tax was £0.4m (2016: £1.0m)  including respective one-off items.
  • Underlying earnings increased to £383,000 (2016: £4,000)
  • Underlying (**) basic and diluted earnings per share of 0.3p (2016: 0.0p). Basic and diluted earnings per share of 0.2p (2016: 0.5p)
  • Balance sheet remained strong, with cash of £10.5m (2016: £11.4m) and available for sale investments of £6.4m at year end (2016: £6.0m)
  • Shareholders' funds of £18.2m or 12.7p per share of 0.2p (2016: £17.7m, 12.3p per share)
  • Proposed final (and total) dividend of 0.4p per share (2016: 0.25p per share), up by 60%

OPERATIONAL

  • Successful launch of services for Computershare in May 2017
  • Completion of acquisition of book of customer accounts from Invesco Perpetual in April 2017
  • Continued investment in Digital Transformation Programme, as planned:
     - funding and dealing functionality introduced to the Group's Mobile App
     - ongoing redevelopment of The Share Centre website.
  • Customer satisfaction levels remain high:
     - ranked as "Best Stockbroker" in the 2017 Investment Trends UK Online Broking Report, with the highest "Overall Client Satisfaction" rating among share investors, for the fourt consecutive year
     - Net Promoter Score ('NPS') of +49, as reported by Investment Trends, the highest level of client advocacy of any online broker

OUTLOOK

  • The new financial year has started well and the Group's financial performance in 2018 is expected to continue to improve as the benefits of growth initiatives and rising interest rates come through

(*) the monthly peer group comprises: Alliance Trust Savings, Barclays Stockbrokers, Equiniti, Halifax Sharedealing, HSBC Stockbrokers, Saga Personal Finance, Selftrade and TD Direct Investing (including Interactive Investor from October 2017)
(**) excludes the impact of some items, particularly any large non-recurring items, as defined in Note 16.