Tatton Asset Management (TAM) H2 2026 earnings summary

Executive summary

• Achieved strong financial and operational performance in FY26, with double-digit growth in revenue, profit, and assets under management/influence (AUM/I).

• Maintained market leadership in the UK DFM MPS segment, with high asset retention and expanding adviser relationships.

• Continued to deliver robust shareholder returns, with a progressive dividend policy and significant capital returned since IPO.

Financial highlights

• Group revenue rose 20.1% year-over-year to £54.4m; adjusted operating profit up 24.1% to £28.5m.

• Adjusted operating profit margin increased to 52.3% (FY25: 50.6%).

• Fully adjusted diluted EPS up 22.3% to 35.1p; annual dividend up 42.1% to 27.0p.

• AUM/I reached £24.2bn, up 11.0% year-over-year; net inflows of £2.8bn (15.6% of opening AUM).

• Cash balance at £33.9m; capital resources held at 396% of regulatory requirement.

Outlook and guidance

• FY27 guidance: net inflows of £200m–£250m per month, AUM/I to grow in line with inflows, Tatton revenue yield c.22bps, Paradigm revenue growth +/-5%.

• Group adjusted operating profit margin expected at 53.0%; progressive dividend policy maintained at ~70% of adjusted earnings.