Nucleus Financial reports growing profits in first results since July IPO
Investments management platform Nucleus Financial today reported growing revenues in its first results since it became a listed company.
Following its admission to London junior market Aim back in July, the company said revenue rose 11 per cent to £12.6m, while after-tax profit nearly doubled from last year to £2.2m.
For the six months up to June, the company said it had £14.3bn assets under management, a 15.6 per cent rise.
The company provides software to around 1,372 financial advisers, providing a platform for advisers to manage clients' assets in a single online account.
It set its first dividend at 1.4p.
David Ferguson, founder and chief exec of Nucleus, said:
The backdrop of increased financial market volatility and pause in momentum across the sector as advisers and platforms alike dealt with the twin introduction of MiFID II regulation and the new GDPR rules, makes these results more pleasing, and financial performance has remained in line with our expectations since the end of the period.