Reports

Client Funds Rise At Brewin Dophin Despite Turbulent Year

Tom Burroughes, Group Editor, London, 7 December 2011

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Brewin Dolphin, the UK-listed wealth and investment management firm, said total funds under management rose to £24 billion ($37.5 billion) in the 53-week period to the end of September this year, up from £23.2 billion in the same period a year ago.

Discretionary funds stood at £15.6 billion, up from £14.0 billion a year before. Total income rose to £264.0 million, a rise of 10 per cent, year-on-year, from 26 September 2010.

Profit before tax fell 27 per cent, year-on-year, to £21.9 million. However, adjusted profit before tax was £39.6 million, a 1 per cent increase.

Adjustments exclude redundancy costs, an additional FSCS Levy [a compensation fund levy by the UK industry], contract renewal payments, acquisition of subsidiary costs and amortisation of client relationships, Brewin Dolphin said in a statement today.

The firm’s board proposes a final dividend of 3.55p, to be approved at the 2012 AGM and payable on 10 April 2012.

 

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