Profits, AuM Rise At Brewin Dolphin

Tom Burroughes Group Editor 29 November 2018

Profits, AuM Rise At Brewin Dolphin

The UK-listed wealth management firm reported a broadly stronger set of results yesterday.

Brewin Dolphin, the UK-listed wealth management firm, reported a 6.7 per cent year-on-year rise in assets under management in the 12 months to 30 September 2018, standing at £42.8 billion ($54.7 billion). Profits rose on the year.

Discretionary funds under management stood at £37.6 billion, up by 11.2 per cent, the firm said in a statement yesterday.

Total income for the reporting period was £329.0 million, versus £304.5 million a year before.

The firm said that its “core” income of £319.7 million had increased by 9.9 per cent.

On an adjusted basis, pre-tax profit rose by 10.7 per cent on a year earlier to £77.5 million. Statutory profit before tax was £68.5 million, up by 18.9 per cent.

Around 13:00 GMT yesterday Brewin Dolphin’s shares had fallen 3.9 per cent from the open, at £3.19 per share.

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