TEAM plc (LON: TEAM), a Jersey-based financial services company, has reportedsolid growth in AUM and results broadly in line with market expectations for the 12 months to 30 September 2024. The outlook for the current financial year is promising with planned new fund launches, improved inflows and an acceleration in migration of client assets to TEAM’s Multi Asset Portfolio Strategies (MPS). Alongside, recruitment is strong with several new joiners starting early in 2025. Our front-line advisors numbers will grow.
Group AUA/M continues to grow and has now reached the £1 billion milestone, with AUA/M at 30 September 2024 of £1.1 billion, up from £834 million over the 12 months, with the majority of the growth from the International division. For the year to 30 September 2024, the Company expects to deliver revenues c. 25% ahead of market expectations, and marginally behind on EBITDA, with revenue for the year of £10.1 million (2023: £ 5.3 million) and an EBITDA loss of £1.7 million, in each case subject to audit. The Group’s focus remains on migrating assets to TEAM’s MPS portfolios to drive future Group profitability. Performance of these funds remains top-tier. TEAM continues to expand the number of advisers in its International Division, targeting ex-pat professional clients working in Asia, Africa and the Middle East.
