Bumper gains for the investment platform AJ Bell this morning following the publication of interim results. Revenues added 17%, pre-tax profits rose by 12% and assets under management posted a record £90bn. Management have elected to accelerate business investment plans but the higher cost guidance this brings will be more than offset by increases to forecasts for full year revenues. The AJ Bell share price was up more than 10% in early trade.
Something of a dark horse in terms of performance, shares in Games Workshop have risen around 30x over the last decade, but this morning’s full year trading update has seen some modest profit taking. Profits surged again and licensing revenues hit record levels, although despite this at least some investors have decided to take money off the table. The Games Workshop share price was down by more than 4% shortly after the open.
Investment group Tekcapital issued full year results this morning which were well received by the market. The portfolio valuation is up by almost 50% whilst the company turned a pre-tax profit of $19.2m, reversing a pre-tax loss of $15.7m a year earlier. The note adds that the shares were last night trading at a 66% discount to NAV, far worse than sector peers and at least some investors appear ready to wade in with the Tekcapital share price up by 17% in the first hour.
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Statement re Offer from PHP - - Assura (AGR)
