Asset management specialist reveals strong H1 2019 results

Specialist alternative asset manager Gresham House plc has reported a strong first half of the year with improvements in income and adjusted operating profit.

This comes at a time when the group is focusing on consolidating and progressing its organic growth priorities whilst developing new investment products and clients.

Firstly, Gresham House’s assets under management (AUM) increased to £2.5bn - said to be entirely driven by organic growth. This has enabled an increase in income of £15.3m. In H1 of 2018, this figure stood at £4.9m.

Adjusted operating profit currently stands at £4.4m, whilst annualised acquisition synergies have come in at over £1m. The company’s adjusted operating margin of 29 per cent has revealed a ‘strong’ progress towards its 40 per cent target.

Meanwhile, Gresham House has also retained a sustained balance sheet strength with cash and liquid assets of £36.3m.

Commenting on the results, Tony Dalwood, Gresham House’s chief executive, said: “Our focus on alternative asset management remains increasingly of interest as allocations to these areas continue to build.

“Alongside revenues, the Gresham House brand is growing, and we are increasingly well-placed for the important shift towards ESG and sustainable investment.

“Trading in the first half of 2019 has been in line with our expectations and we feel well positioned for the remaining part of the year.

“We have made significant progress developing our platform, including enhanced capability within sales and distribution, in order to scale in the future whilst looking at international opportunities in a post-Brexit world.”