Jarvis Securities plc
("Jarvis" or "the Company")
DIVIDEND DECLARATION & TRADING STATEMENT
The Board of Jarvis announces that it is declaring a second quarterly interim dividend of 6 pence per share, to be paid on 8 June 2017 to shareholders on the register on 19 May 2017.
The Board is pleased to announce that pre-tax profit for the four months to April 2017 has increased significantly compared to the same period in the prior year. During this period revenues have increased 25% driven by organic growth in the business and improved market conditions. In the same period costs have increased 7%.
The Board forecasts that pre-tax profit for the year ended 2017 will be significantly above current market expectations.
Andrew Grant, Chief Executive Officer, commented: "I am delighted to be able to announce such a positive trading update. Market volumes have remained consistently buoyant since the conclusion of the Brexit referendum and we continue to add both institutional and retail clients to our business. For our shareholders a growing business means growing dividends, and we anticipate the total 2017 dividend payment will be well above current market expectations."
DIVIDEND REINVESTMENT PLAN
A Dividend Reinvestment Plan is being offered and the final date for elections for reinvestment of the first quarterly interim dividend is 25 May 2017. Any shareholder requiring further information should contact the Company.
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
Enquiries:
Jarvis Securities plc 01892 510 515
Andrew Grant
Jolyon Head
WH Ireland Limited 0113 3946600
Katy Mitchell
Ed Allsopp
Notes:
Jarvis Securities plc is the holding company for Jarvis Investment Management Limited (AIM: JIM.L) a stock broking company and outsourced service provider for bespoke tailored financial administration. Jarvis was established in 1984 and is a member of the London Stock Exchange; a broker dealer member of ISDX Markets, authorised and regulated by the Financial Conduct Authority and an HM Revenue & Customs approved ISA manager. As well as normal retail broking Jarvis provides cost effective and flexible share trading facilities within ISA and SIPP wrappers.
Jarvis provides outsourced and partnered financial administration services to a number of third party organisations. These organisations include advisers, stockbrokers, banks and fund managers. Jarvis can tailor its administration processes to the requirements of each organisation and has a strong reputation for flexibility and cost-effectiveness.
