Pre-Close Update
25/01/2023 07:00
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RNS Number : 7490N Gresham House PLC 25 January 2023
25 January 2023
Gresham House plc
("Gresham House", the "Company" or the "Group")
Pre-Close Update
FY 2022 - AUM growth of 20% and performance at the top end of market
expectations(1)
Gresham House, the specialist alternative asset manager, is pleased to
announce a pre-close trading update for the 12-month period to 31 December
2022.
Highlights
Despite the challenging macroeconomic backdrop, we have continued to make
further progress towards delivery of the Group's five-year plan 'GH25':
§ AUM up 20% year-on-year, expected to be at least £7.8 billion as at 31
December 2022 (2021: £6.5 billion).
§ FY 2022 adjusted operating profit expected to be at top end of market
expectations, in excess of £26.5 million (2021: £20.2 million).
Post period end
§ Announced the launch of the Irish Strategic Forestry Fund targeting €200
million including a cornerstone investment by Ireland's sovereign development
fund (ISIF). The fund's afforestation plans contribute to Ireland's publicly
stated net zero ambitions.
§ Strong start to the Baronsmead Venture Trust plc and Baronsmead Second
Venture Trust plc (the Baronsmead VCTs) £40 million fundraise (plus a further
£10 million discretionary over-allotment facility) which follows the
successful £76 million Mobeus VCTs fundraising in Q4 2022.
Tony Dalwood, Chief Executive of Gresham House, said:
"2022 has brought another year of robust performance by the Group, with strong
fund inflows across our asset classes. In spite of highly challenging
macroeconomic conditions, we have continued to make good strides against our
long-term goals which is testament to the expertise and capabilities of the
Gresham House team.
"Our continued delivery of strong investment performance coupled with a core
focus on sustainability will allow us to continue to provide successful
investment solutions."
(1) Market expectations defined as adjusted operating profit for the year to
31 December 2022 in the range of £25.3 million to £26.5 million in
broker reports that follow Gresham House plc as at 24 January 2023
Ends
For more information contact:
Gresham House plc
Tony Dalwood, Chief Executive Officer +44 (0)20 3837 6270
Kevin Acton, Chief Financial Officer
Houston - Media and analysts
Alexander Clelland gh@houston.co.uk (mailto:gh@houston.co.uk)
Kay Larsen +44 (0)204 529 0549
Kelsey Traynor
Canaccord Genuity Limited - Nominated Adviser and Joint Broker
Bobbie Hilliam
Harry Pardoe +44 (0)20 7523 8000
Jefferies International Limited - Joint Broker
Paul Nicholls +44 (0)20 7029 8000
James Umbers
About Gresham House
Gresham House is a specialist alternative asset management group, dedicated to
sustainable investments across a range of strategies, with expertise across
forestry, housing, sustainable infrastructure, renewable energy and battery
storage, public and private equity.
Our origins stretch back to 1857, while our focus is on the future and the
long term. Quoted on the London Stock Exchange (GHE:LN) we actively manage
c.£7.8 billion of assets on behalf of institutions, family offices, charities
and endowments, private individuals, and their advisers. We act responsibly
within a culture of empowerment that encourages individual flair and
entrepreneurial thinking.
As a signatory to the UN-supported Principles for Responsible Investment, we
are committed to operating responsibly and sustainably. We believe taking the
long view in delivering sustainable investment solutions will continue to be a
growing factor in the strength of our market positioning.
www.greshamhouse.com (http://www.greshamhouse.com)
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