Revenues, Client Funds Rise At UK's Charles Stanley

Tom Burroughes Editor London 27 January 2010

Revenues, Client Funds Rise At UK's Charles Stanley

Charles Stanley Group, the broking and wealth management firm, said revenues in the three months to 31 December rose by 5.2 per cent year-on-year to £28.4 million ($39.9 million).

“Since 30 September 2009 the business has continued to show resilience in what remain difficult trading conditions” the firm said, saying it had seen solid performance across all its business lines.

Total client funds under investment management or administration rose during the quarter by 4.3 per cent from £11.6 billion at 30 September 2009 to £12.1 billion at 31 December.  Within this figure, the funds under discretionary management increased by 5.7 per cent from £3.5 billion to £3.7 billion.

By comparison, the FTSE 100 benchmark of blue-chip UK stocks rose by 5.4 per cent from 5134 to 5413 and the FTSE APCIMS Balanced Portfolio Index by 2.5 per cent, the statement said.

The firm’s board is recommending the payment of a second interim dividend of 5.00p. (2008/09: zero).

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