Edinburgh fintech Nucleus hails growth

Published: 04 April 2019

Nucleus Financial Group has hailed a strong full-year performance in its first period of trading on London’s junior market.

The Edinburgh-based fintech, which floated on the Alternative Investment Market in July, recorded growth in assets under administration (AUA), revenue and customer numbers in the year to 31 December.

We grew the audience last year, we’d hope to do the same over the course of the coming year...We’re feeling very buoyant about the future...

David Ferguson, Chief Executive, Nucleus Financial

 

The fintech, which has developed software platforms that enable financial advisers to provide online access to clients for investments across ISAs, pensions and bond accounts, enjoyed a 6 per cent increase in the number of active advisers to almost 1,400. This drove a 7 per cent rise in overall customer numbers to more than 93,700 as of 31 December. 

It also pointed to benefits from a restructure of its business operations which it predicts will allow for greater control over its platform technology and speed up the rate of product development.

At the year-end Nucleus held £17.7m in cash and recorded no debt. It recommended a final dividend of 3.6p per share, taking full-year dividend post-admission to Aim to 5p per share.

John Moore, senior investment manager at Brewin Dolphin Scotland, said: “Nucleus has still delivered an increase in active users, a rise in revenues and a boost to profits...”

Full story via The Scotsman News

 

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