Ravenscroft publishes strong results for 2016

Tuesday 02 May 2017

Ravenscroft has published its annual report for 2016 showing a 52% jump in revenue to £17.36m as well as a 21% growth of their assets under administration.

The group's latest annual report shows that gross profit and operating profit have also respectively increased by 58% and 89%.

The shareholders will receive a total annual dividend per share for 2016 of 14.25p, which is up from 12.25p per share in 2015.

Andy Stewart, Ravenscroft's Non-executive Chairman, said: "The Ravenscroft Group had another splendid year in 2016, continuing to provide investors with positive returns in what has been an unsettled global environment, where the perceived impossible became possible. That’s a testament to our client base, shareholders and staff. We’re looking forward to continued growth in 2017."

The report also shows positive results for Ravenscroft’s corporate finance division which saw its revenue increase by 158% on last year at £6.15m. This was made possible by the completion of several deals – which raised money for The Channel Islands Property Fund Limited and Bailiwick Investments Limited, the two specialist funds for which Ravenscroft acts as the investment manager. A third specialist fund was also launched by Ravenscroft in 2016, the Financial Services Opportunities Investment Fund Limited, with a focus on investing in businesses in the financial sector. 

Jon Ravenscroft, Group Chief Executive Officer, said: "It’s been another year of excellent growth and the team continue to deliver increasing dividends back to our shareholders and above average returns to our investors. Ravenscroft is unrecognisable from when it began in 2005 but our foundations remain the same. 2017 will see even more change as we push forward with our onshore expansion while continuing to deliver results to our Channel Island investors. At the same time we will also continue to invest back into the communities around us with our support of charities, sport, heritage and culture."

Mr Stewart added: "Channel Islands broking, which remains a core part of the business, saw a 22% climb in revenues in 2016 and a £321m increase in broking assets to £1.7bn. We have also strengthened the Channel Islands broking team with the arrival of a team of five stockbrokers and advisory dealers in our Jersey office and they have already made a considerable contribution."