Jarvis Securities (LSE:JIM) released interim results for the six months to 31 December 2025 highlighting its ongoing transition toward a full wind-down. Underlying revenue, excluding exceptional items, dropped 74.6% year-on-year to £1.6m, while losses before tax on the same basis widened significantly. However, reported earnings were lifted by a £9m gain from the disposal of the company’s retail execution business, resulting in headline profitability and an improved earnings per share.
The group’s income from interest continues to decline as client balances gradually reduce. In addition, dividend distributions from its subsidiary remain restricted by the Financial Conduct Authority. Management is focused on executing an orderly wind-down, which includes assessing the potential sale of the company’s remaining property assets. The board is also considering cancelling the company’s AIM listing and returning surplus capital to shareholders once the wind-down process has been finalised.
Looking ahead, the company’s position is supported by strong underlying financial stability, characterised by solid profitability and low leverage, along with very low valuation metrics. However, the outlook is tempered by weak technical momentum in the share price and uncertainty around cash generation, with free cash flow reported at zero for 2024.
More about Jarvis Securities
Jarvis Securities plc operates in the financial services sector through its wholly owned subsidiary, Jarvis Investment Management Limited. The business historically provided retail trade execution and investment administration services. Following regulatory challenges and a strategic review, the company sold its core retail execution division and is now focused on an orderly wind-down of its remaining activities while seeking to realise residual value for shareholders.
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