Advisory Investment Service | Discretionary Investment Management | Ravenscroft Group | Katrina Bray
07 Apr 21
Ravenscroft Holdings Limited Annual Report 2020
Ravenscroft's assets under administration and revenue have both increased in a year which also saw the company acquire two new businesses.
In its annual report, the investment services company, which now has five offices across Guernsey, Jersey, the UK and the Isle of Man, shows that AUA now stands at £7.75bn and revenue at £29.10m. It also reported that new client assets in 2020 were £628m. and more than £500m has now been invested by clients in the Ravenscroft Investment Funds.
‘2020 was, amongst other things, a truly humbling experience. We have all been forced to adapt, both personally and professionally, and the pandemic has torn any complacent assumptions about future growth away from business owners across industries the world over,’ said chairman Stephen Lansdown CBE.
‘Against this sombre backdrop, I am extremely proud of what our team has managed to achieve. To grow AUA, revenue, client numbers, jurisdictional footprint and employees in what was a year like no other is nothing short of phenomenal.’
The performance of the company, together with the rollout of the vaccination programme and the expectation that life will return to normality and underpin financial market stability, will see shareholders receive a dividend of 15p, which is in addition to the 10p per share received in the first half of 2020, an increase of 127% on the total dividend paid in 2019.
‘Meeting the investment objectives of our clients and delivering value to the shareholders underpins everything Ravenscroft does. In a year where there have been many difficulties, from falling financial markets to lowering interest rates and restrictions on our day-to-day lives, the group has outperformed its targets on many of our service lines and that of course benefits our clients and our shareholders,’ said Ravenscroft chief executive officer Jon Ravenscroft.
The acquisition of a Bishop’s Stortford-based team from Tees together with the purchase of WH Ireland ‘s business in the Isle of Man saw the number of employees increase from 107 to 123. While the company is well-known for its charitable giving and community support, the expansion into the UK and Isle of Man saw Ravenscroft take on its biggest sponsorship when it became the principal sponsor for Bristol Bears rugby team for the 2020/2021 season with the Ravenscroft name on the front of the home, away and European shirts.
Ravenscroft announced last week that Mr Lansdown had decided to retire from the board after six years, four of which as chairman but he will remain the company’s largest shareholder with a 40.16% stake. Jersey-based Dominic Jones, who has been involved with the Ravenscroft group as a director since 2008 and joined the Ravenscroft Holdings board in 2014, will become chairman at the annual general meeting in June.
‘It’s been a privilege to be on the Ravenscroft board for almost six years and chairman for the past four and as a major shareholder and client, I will still be involved. We have made some excellent appointments to the board, which will be chaired by Dominic Jones, and I have every confidence that they will continue to drive the business forward. Ravenscroft has an exciting future ahead of it,’ said Mr Lansdown in his chairman’s statement.
To view the report please click through to our investor relations page