Overview
UK financial services firm's interim revenue fell 75% as business wind-down continued
EPS turned positive, reflecting exceptional income from sale of retail execution business
Company progressing with wind-down, expects AIM delisting and capital return to shareholders
Outlook
Company expects group interest income to continue falling as client money reduces during wind-down
Jarvis intends to complete wind-down and may seek AIM delisting, with timing dependent on asset sales
Company continues to seek value from remaining assets, including sale of its only property interest
Result Drivers
BUSINESS WIND-DOWN - Co said continued wind-down of Jarvis Investment Management Limited drove sharp decline in revenue and ongoing reduction in client money held
EXCEPTIONAL INCOME - Proceeds from sale of retail execution business boosted interim results, including deferred consideration payments
INTEREST INCOME DECLINE - Group interest income fell due to lower client money balances during wind-down
Company press release: ID:nRSd5392Ya
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
FY EPS
GBP 0.12
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)