Team revenue rises but pre-tax losses widens

(Sharecast News) - Team reported first-half revenue growth of 18.2% to £6.9m on Tuesday, before any contribution from its late-March acquisitions, while pre-tax losses widened slightly to £1.83m from £1.76m as it continued to invest in its platform and absorb initial integration costs. The AIM-traded wealth, asset management and financial services group said the acquisition of WH Ireland, completed on 24 March for £12.7m, added £0.97bn of assets under management and gave it an established UK platform under the WH Ireland Wealth Management brand.

Alongside the announced acquisitions of EPIC Fund Services Guernsey and eight EPIC investment mandates, the enlarged group is expected to have about £2.3bn of assets under advisory and management once the EPIC mandate deal completes.

Cash at 31 March rose to £3.79m from £2.16m, helped by cash brought in with WH Ireland, while client assets increased 74% over the period to £2.25bn.

Team said WH Ireland Wealth Management was now operating on a positive monthly EBITDA basis, with the group on track to become monthly cash positive by the end of 2026 or early 2027.

At 1104 BST, shares in Team were up 5.62% at 16.9p.

Reporting by Josh White for Sharecast.com.

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