Record-breaking year for Peterborough investment managers Ravenscroft

Ravenscroft, which acquired private client stockbroking company A Vartan Ltd, with offices in Minster Precincts, seven years ago, has reported an increase in revenues of 37 per cent - up to £39.94 million.

That performance helped drive its share price up 36 per cent to £8.50 (current share price now at £8.75).

Its trading profits went up by about 50 per cent to £9.93 million.

Shareholders will receive a 17 pence dividend, which is in addition to the 10 pence per share received in the first half of 2021.

Chairman Dominic Jones said: “A year ago, there was the general expectation that, by now, things would have largely returned to normal, and while there have been steps in the right direction, there has still been a great deal of uncertainty.

“Our clients’ and shareholders’ interests are at the centre of everything we do, so to once again reach many of our performance targets and deliver this level of value is testament to the incredible efforts of all of our teams.”

The company has also seen £302 million introduced by new clients over the year and has expanded its range of investment funds, with the onshore launch of the Cautious Income and Growth funds and the Diverse Property Income Fund, part of its Specialist Fund Management offering.

Jon Ravenscroft, chief executive, said: “This year has not been without its challenges, but we’re pleased to report another record-breaking year.”

“We’ve seen strong growth across almost the entirety of the business, and I am confident that

this trend will continue in the coming years.”