AssetCo’s pre-tax profit increased more than four-fold from £3.4m to £16.1m over 12 months, according to the firm’s annual results released today (18 February), in a year that CEO Campbell Fleming said the firm is “immensely proud of”.
The figures come following the purchase of equity stakes in four businesses over the course of 2021 - Rise ETF, Parmenion, Saracen Fund Managers and River and Mercantile - amid AssetCo's new goal to build and operate and wealth and asset management firm. Its capital has subsequently almost doubled over the last 12 months, increasing to £56.1m from £32.3m, including a tender offer that returned £27m to shareholders. AssetCo's share price also quadrupled over the period, having increased from £4.11 to £17 per share. AssetCo CEO Campbell Fleming looks to another year filled with dea...
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