Pre-Tax Profits Rise At UK's Charles Stanley

Tom Burroughes London London 5 November 2009

Pre-Tax Profits Rise At UK's Charles Stanley

The UK wealth management and stock broking firm, Charles Stanley, said it logged a pre-tax profit of £5.49 million ($8.2 million) in the six months to 30 September this year, a 6.8 per cent rise on the same period in 2008.

Revenue for the half-year period stood at £55.9 million, a rise of 14.1 per cent over the period, the firm said in a statement.

When adjusted for disposals and amortisation of client lists, pre-tax profit was £6.6 million, a fall of 4.3 per cent, the statement said.

Funds under administration rose to £11.6 billion at the end of September, up from £10.1 billion a year before, while discretionary funds under management reached a “record high” of £3.5 billion.


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