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JIM Jarvis Securities News Story

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UK's Jarvis Securities interim revenue falls 75% as wind-down continues

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

MetricBeat/MissActualConsensus Estimate
FY EPSGBP 0.12
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (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.)

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