Record-breaking year for Ravenscroft

Tuesday 12 April 2022

Ravencroft’s share price and revenue have both increased by more than 35%, according the firm's annual report.

The figures for 2021 show that revenue went up by 37% to £39.94m, with the share price up 36% at the end of December to £8.50 (current share price now at £8.75).

Profits, assets under administration (AUA) and dividend prices followed the upward climb as the company recorded almost a 50% increase in trading profits. This currently sits at £9.93m. 

AUA increased by 13% and shareholders will receive as 17p dividend, which is an addition to the 10p 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."

Mr Jones acknowledged in his statement that the importance of continued involvement and support from local communities across he Channel Islands, Isle of Man and UK. 

The results come as Alex Chambers, from Ravenscroft's investment management team, has been included in the Citywire Wealth Manager's Top 30 Under 30 for 2022.

Mr Chambers joined Ravenscroft in 2013 and became portfolio manager within the discretionary investment team a year later, overseeing the day-to-day management of multiple portfolios and funds. He recently joined the specialist funds team, where he will primarily be working on a range of Channel Island-based closed-ended funds that the company acts as investment managers to.

Pictured: Investment Manager Alex Chambers, who has just been named in Citywire's '30 Under 30'.

"Throughout his time with Ravenscroft, Alex has shown an incredible level of dedication and insight and he's been integral to the team, working with both our institutional and private clients," said Mark Bousfield, managing director of Ravenscroft.

The firm is also celebrating its compliance team being shortlisted for Best Compliance Team at the International Compliance Association (ICA) Compliance Awards.

Head of Compliance in Guernsey, Guy Hardhill, said it was great that the teams based in the Channel Islands were independently recognised.

"The team has had a busy couple of years... there has been the challenge of multiple lockdowns across our four jurisdictions which have all required additional compliance oversight. For the team to be shortlisted amongst hundreds of submissions is testament to the hard work they've put in."

During the first lockdown in 2020, the team said it dealt with a number of new accounts while contending with increased regulatory pressures, staff illnesses, policy reviews and routine onsite visits from both Channel Island regulators.

The awards are hosted by the ICA, the leading professional body for the global regulatory and financial crime compliance community, and entries are assessed by a panel of judges according to five criteria – spirit, collaboration, courage, outcome and adoption – each of which is awarded a score out of 10.

The winners will be announced on 19 May at The Oval in London.