Financial Results

Charles Stanley's Profits Surge By One Third In Half Year

Tom Burroughes Group Editor London 10 November 2010

Charles Stanley's Profits Surge By One Third In Half Year

Charles Stanley, the London-listed stockbroker and wealth manager, today reported a pre-tax profit for the half-year ended 30 September of £7.3 million (around $11.7 million), a 33 per cent surge from a year ago.

On an adjusted basis, pre-tax profit rose 24 per cent year-on-year to £8.2 million, the firm said in a statement. The profit rise was made on the back of a 7 per cent gain in revenues of £59.7 million.

Funds under management and administration rose to £13.5 billion from £11.6 billion a year earlier, a 16 per cent rise.

"The second six months of our year have started strongly, and although the uncertainties for the medium-term make it difficult to see very far ahead, the performance of share prices suggests that investors are taking a positive view," said Sir David Howard, chairman of Charles Stanley.

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