Charles Stanley Sees Quarterly Revenue Rise, Assets Drop

Tom Burroughes Editor London 22 January 2009

Charles Stanley Sees Quarterly Revenue Rise, Assets Drop

UK brokerage and wealth managerCharles Stanley said its revenues rose by 3 per cent to £27 million in the final three months of 2008 from the same period a year before, although revenues in the nine months to 31 December fell by 3.4 per cent from a year before.

Total client funds under investment management or administration declined during the quarter by 8.5 per cent from £10.1 billion at 30 September 2008 to £9.2 billion at 31 December 2008. Funds under discretionary management declined by 5.3 per cent from £2.9 billion to £2.8 billion, the firm said in a statement.

The firm said that is strong balance sheet meant it was "well placed to take advantage of further acquisition opportunities" but did not elaborate on details.

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