Tavistock assets boosted by sale of wealth arm; advice revenues up

According to its interim results for the six-month period, the net assets were boosted by the £20m sale of Tavistock Wealth to Titan Wealth Holdings that took place in August.  The firm said this allowed it to repay its outstanding borrowings of £3.5m, buy back and cancel 4.7% of the company's issued share capital and pay an interim dividend of 0.05p - a five-fold increase on its maiden payment made in 2019.  Tavistock's revenue for the period was up 27% at £17m, while its pre-tax profit was £35.5m - up from the £416,000 loss in the first half of 2020.  The advisory business has se...