LONDON: Tavistock Investments Plc (AIM:TAVI) reported an operating profit of £11.07 million for the year ended March 31, 2025, reversing a £0.4 million loss a year earlier, as the UK-based retail advisory firm undertook a strategic overhaul including asset disposals, acquisitions, and a planned rebrand.
Adjusted EBITDA fell to £1.76 million from £2.23 million, impacted by the disposal of two subsidiaries and a reduction in the Group’s Appointed Representative network. Gross revenues declined to £32.63 million from £39.49 million.
The company ended the period with £7.40 million in cash and cash equivalents, up from £4.12 million in 2024.
Tavistock completed the sale of its self-employed network and estate planning business to Saltus for an initial £22 million, with a further £15.75 million due in instalments. The move contributed to a 29% rise in the interim dividend to 0.09p in January and supported a £5.8 million share buyback programme.
During the year, Tavistock acquired asset manager Alpha Beta Partners for an initial £6.75 million, with total consideration capped at £18 million. It also signed a binding agreement to acquire a 76.6% stake in Lifetime Financial Management, which uses AI-driven platforms to democratize financial advice.
The company said it will rebrand as Vertex Money Plc in due course.
“This has been a year of strategic transformation,” said Group Chief Executive Brian Raven. “We believe financial services should work for everyone, not just the privileged few.”