Share - Adding accounts and firmly in profit
Share has completed the acquisition and transfer of accounts from J.P. Morgan Asset Management and in August reported its first H1 operating profit since 2014. This followed a return to profit in H218 and was achieved against a more challenging background for trading volumes and despite bearing some costs associated with the approach from Interactive Investor. Prospectively, a revival of investor confidence and benefits from adding further customer accounts could provide upside from our maintained normalised earnings estimates.Share's principal business is The Share Centre Limited. The Share Centre provides services to personal investors on a self-select basis. There are four main account types: Share Accounts, which are dealing accounts capable of holding a range of equities, funds, Exchange Traded Funds, bonds and investment trusts; Individual Savings Account (ISA), which has the same functionality but within the tax efficient savings wrapper of an ISA; Self Invested Personal Pension, which provides a tax efficient route through which to save in order to provide a pension in retirement; and Child Trust Fund/Junior ISA, which can be opened by parents and guardians on an unfunded self-select basis.
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