Brooks Macdonald Group, an integrated private client discretionary asset management and advisory firm, reported pre-tax profits of £2.03 million ($3.59 million) for the twelve months to 30 June 2008, a year-on-year increase of 27 per cent.

Turnover for the year ended at the UK based group at £16.8 million ($29.7 million), up from £12.5 million ($22.1 million) on the last year, an increase of 34 per cent. The AIM listed group said that discretionary funds under management totalled £1.18 billion ($2.08 billion), an increase of 29 per cent for the year.  

Chief Executive, Chris Macdonald, said: “This has been a record year for the group with a number of landmarks being achieved. Profits before tax have exceeded £2 million ($3.54 million) for the first time, funds under management exceeded £1billion ($1.77 billion) in December 2007 and new business from introducers doubled.”  

Mr MacDonald added: “Looking back over the three years since our listing, the company has organically grown assets under management by around 300 per cent and pre tax profits by around 400 per cent.  We are delighted with this progress and we will continue to make significant investments in our services to ensure future growth.”