Odey AM parent company swings to £4.6m loss in 2023

Dividends not approved

The parent company of Odey Asset Management and Odey Wealth, Odey Asset Management Group (OAMG), posted significant losses for the financial year to 5 April 2023.

In its accounts published today (29 February), the parent company posted losses of more than £4.6m for the financial year, a significant drop from the £1.7m in profits recorded in the 2022 financial year.  The strategic report, signed by Crispin Odey and dated 21 February 2024, noted the two principal entities for OAMG were Odey AM and Odey WM. As of 5 April 2023, OAMG had £21.9m of shareholder capital and reserves, which Odey stated will be "sufficient" for the company to meet its ongoing business requirements for at least 12 months.  FCA takes no action against Odey Asset Managem...