Ravenscroft has grown assets under administration by more than a billion to £7.45bn – an increase of 16% in 12 months.

The group, which has offices in Guernsey and Jersey and the UK through Vartan Ravenscroft, has also seen revenue increase 24% to £27.85m and trading profit increase by 33% to £6.52m. It now employs more than 100 people across the group, which includes those who joined as a result of the acquisition of Tees Investment Management Limited.

But as well as celebrating another successful year for the investment services company, its chairman Stephen Lansdown CBE has highlighted in Ravenscroft’s annual report that the COVID-19 pandemic, which he describes as ‘wreaking havoc across the globe’, will have a significant impact.

‘There have thankfully been many positives from which to choose, including fantastic growth of profitability, assets under administration and headcount. It would however be remiss of me not to comment on the current global situation – specifically COVID-19 and the resultant effect on stock markets, economics and society. While current events, in the strictest sense, fall outside of the period of these financial statements, they are of course entirely relevant to our business, our clients, our staff and our plans.’

Mr Lansdown said the market reaction would have a direct effect on future performance and assets under administration and that as a result the board was announcing a conservative dividend of 5.5p for the six months to 31st December in addition to the 5.5p announced for first half.

‘We are confident that our shareholders will support our decision to opt for financial prudence at this moment in time. In what is set to be a difficult period for financial markets, I would like to take this opportunity to reassure you that Ravenscroft is a robust, financially sound and reliable business that remains entirely committed to offering our clients and shareholders the best possible experience in their investment and financial ventures.’

Group chief executive Jon Ravenscroft said the company’s continued success was based on the trust of clients and the dedication of staff.

‘2019 saw a very robust performance from the group reflecting the trust and loyalty of our clients and shareholders and the hard work and dedication of our staff. As we grow, we have continued to hire staff with the skills required for us to deliver a seamless client offering across jurisdictions, and to keep abreast of the ever changing regulatory environment. Our operating platform upgrade is reaching the final stages and is due for launch in late 2020, which will allow us to be more flexible in how we offer services to clients.’