Tatton expects earnings to be ahead of market expectations: we upgrade FY21e adj. EBITDA by 10%. This is the result of strong FuM growth in H2 as well as sustained mortgage lending – contributing to the upgrade equally. FuM is touching £9.0bn with improving flows and positive performance. There is positive earnings momentum in outer years from higher FuM and we upgrade by +10% in FY22e, but remain more cautious further out (FY23e +4%). Tatton is sustaining an impressive trajectory, adding £2bn f ....
20 Apr 2021
+10% ahead: higher FuM and Mortgage momentum
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+10% ahead: higher FuM and Mortgage momentum
Tatton Asset Management Plc (TAM:LON) | 577 -57.7 (-1.7%) | Mkt Cap: 349.2m
- Published:
20 Apr 2021 -
Author:
Andrew Watson | James Bayliss -
Pages:
3
Tatton expects earnings to be ahead of market expectations: we upgrade FY21e adj. EBITDA by 10%. This is the result of strong FuM growth in H2 as well as sustained mortgage lending – contributing to the upgrade equally. FuM is touching £9.0bn with improving flows and positive performance. There is positive earnings momentum in outer years from higher FuM and we upgrade by +10% in FY22e, but remain more cautious further out (FY23e +4%). Tatton is sustaining an impressive trajectory, adding £2bn f ....