Frenkel Topping Group (FEN)

Sector:

Financials

Index:

FTSE AIM All-Share

38.00p
   
  • Change Today:
    -0.50p
  • 52 Week High: 39.00
  • 52 Week Low: 27.00
  • Currency: UK Pounds
  • Shares Issued: 75.56m
  • Volume: 30,000
  • Market Cap: £28.71m
  • RiskGrade: 123

Frenkel Topping well placed after revenue and AUM growth

By Duncan Ferris

Date: Wednesday 10 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Frenkel Topping on Wednesday reported that full-year revenues expanded on the back of new business, while assets under management also increased.
For 2018, the specialist independent financial advisor and asset manager achieved revenue of £7.7m, an increase of 5% compared to the year before, as recurring revenue increased from £5.9m to £6.0m and new business increased from £1.4m to £1.7m.

However, profit before tax dropped by 40% to £1.1m as total administrative costs increased by 10% to £3.6m and direct staff costs climbed 15% to £2.9m, offsetting the revenue increase.

The drop in profits also reflected a planned investment into the business of £0.7m, which enabled assets under management (AUM) to increase by 4% to £779m following a 43% rise in new investment mandates and a 33% increase in expert witness instructions, which the AIM traded company said was "a key pipeline" for future AUM growth.

Richard Fraser, chief executive of Frenkel Topping, said: "The board is pleased to report a year of progress, underpinned by significant investment across the business. Last year we identified a number of risks to Frenkel Topping's development and embarked on an investment strategy to help grow and protect the business in a challenging market environment and mitigate these risks."

Cash and cash equivalents stood at £0.8m at the end of the year, down from £1.8m from the same point the year before, while paid and proposed dividends were are up 6% to 1.29p per share.

"The company is in a good position as we scale up for our next period of growth. We remain focused on delivering outstanding service to our clients and sustaining our very high client retention rate, as well as consolidating our position as the UK's leading asset manager for personal injury and clinical negligence awards. Current trading is encouraging and we have had a solid start to the new financial year, underpinned by recent investment and our conservative investment approach," said Fraser.

Frenkel Topping's shares were up 3.57% at 29.00p at 1020 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

FEN Market Data

Currency UK Pounds
Share Price 38.00p
Change Today -0.50p
% Change -1.30 %
52 Week High 39.00
52 Week Low 27.00
Volume 30,000
Shares Issued 75.56m
Market Cap £28.71m
RiskGrade 123

FEN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
52.48% above the market average52.48% above the market average52.48% above the market average52.48% above the market average52.48% above the market average
19.40% above the sector average19.40% above the sector average19.40% above the sector average19.40% above the sector average19.40% above the sector average
Price Trend
25.20% above the market average25.20% above the market average25.20% above the market average25.20% above the market average25.20% above the market average
27.40% above the sector average27.40% above the sector average27.40% above the sector average27.40% above the sector average27.40% above the sector average
Income
14.75% below the market average14.75% below the market average14.75% below the market average14.75% below the market average14.75% below the market average
40.74% below the sector average40.74% below the sector average40.74% below the sector average40.74% below the sector average40.74% below the sector average
Growth
16.83% below the market average16.83% below the market average16.83% below the market average16.83% below the market average16.83% below the market average
45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average45.45% below the sector average

FEN Dividends

  Latest Previous
  Interim Final
Ex-Div 12-Sep-19 30-May-19
Paid 26-Sep-19 28-Jun-19
Amount 0.32p 0.97p

Trades for 21-Jan-2020

Time Volume / Share Price
16:36 15,000 @ 37.50p
14:55 38,430 @ 39.00p
09:31 15,000 @ 37.50p

FEN Key Personnel

CFO Stephen Bentley

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