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Profits, Client Assets Rise At UK's Brewin Dolphin

Tom Burroughes

25 May 2011

The wealth management and investment firm Brewin Dolphin said today that total managed funds rose to £25 billion ($40.5 billion) as of 27 March, up from £23.2 billion at 26 September last year, while adjusted profit before tax rose to £22.9 million from £20.9 million on 28 March last year, a 9.6 per cent rise.

The 7.8 per cent rise in managed funds outpaced a 4.7 per cent rise in the FTSE APCIMS Private Investor Series Balanced Portfolio benchmark, the UK-listed firm said in a statement on interim results.

Discretionary funds stood at £15.5 billion at 27 March this year, up from £14.0 billion in September 2010.

Total income was £136.0 million, up from £120.9 million in the equivalent period to 28 March last year, a rise of 12.5 per cent. On an adjusted basis, basic earnings per share were 7.2 pence, a rise of 9.1 per cent compared with the level on 28 March last year.

The firm declared a maintained interim dividend of 3.55p per share.