Investment Strategies

Charles Stanley Predicts Fall In Half-Year Profits, Shares Drop

Tom Burroughes Group Editor London 4 October 2011

Charles Stanley Predicts Fall In Half-Year Profits, Shares Drop

Charles Stanley, the brokerage and wealth management firm, said it expects its profits in the six months to 30 September are likely to fall from the same period a year ago, as tough markets hit commissions and advisory fees.

On the other hand, the performance of private client and financial services divisions were “solid”, the UK-listed firm said in a trading statement update yesterday.

Shares in the firm were down around 10 per cent yesterday. 

“Since 29 July global stock markets have continued, in the face of increasingly strong macro economic headwinds, to be volatile.  This has had an effect in particular on Charles Stanley Securities, with commissions levels and corporate finance fees for the six month period down on the same period last year,” it said.

“We expect overall revenues for the six months to 30 September to be at the same level as for the comparable period last year,” it continued.

 

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