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+0.04 - Rsa Ins. 120.40 0.00
Jarvis Securities pre-tax profits up 20%
Wednesday, 22nd February 2012
Pre-tax profits at Jarvis Securities rose 20% to £1.94m in the year to the end of December.Revenues increased to £5.68m - up from £5.41m - following a 25% rise in year-on-year interest income.
Earnings per share rose 29% to 13.84p and total dividends have increased to 10p per share from 9p last time.
Chairman Andrew Grant said: "The outlook for 2012 is excellent.
"We have begun the year by signing up five new commercial clients and have a strong pipeline of enquires which we hope will secure further contracts.
"Maturing treasury deposits are being placed at higher interest rates than were being obtained, cash under administration is approaching its record level, and the Hubwise platform has its first tranche of assets under administration.
"The business continues to be highly cash generative with no debt, and we aim to adhere to our stated policy of paying quarterly dividends of two-thirds of profit after tax."
Story provided by StockMarketWire.com
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