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Record PLC - Berkshire, England-based currency and derivatives manager - Posts revenue of £44.7 million for financial year that ended on March 31, up 27% from £35.1 million the year before. Says the increase is driven by growth in both management and performances fees linked to ‘core currency management products’, with new revenue streams from the launch of asset management products expected for financial 2024. Pretax profit rises 34% to £14.6 million from £10.9 million, as operating profit increases to £14.5 million from £10.8 million the year before. Performance fees rise to £5.8 million from just £500,000 the year before. Looking ahead, Record says it still sees a ‘clear path’ to its target of £60 million in annual revenue by financial 2025 with a 40% operating profit margin, up from 32% in the recent year. Declares 5.18 pence in dividends for financial 2023, up 15% from 4.52 in financial 2022. For the recent year, the payout is composed of 2.45p final dividend and a 0.68 special dividend, after a 2.05p interim dividend. Current stock price: 95.00 pence each, up 1.9% on Friday morning in London 12-month change: up 36% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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