British wealth manager Brooks MacDonald has posted pre-tax profit of £15.9m for the year ended 30 June 2016, a 39% jump compared to £11.4m a year ago.
Underlying pre-tax profit stood at £15.5m, a rise of 3% from £15.1m in the prior year.
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The company’s revenue increased 5% year-on-year to £81.4m from £77.7m.
The company attracted £863m in net new discretionary business during the period. This resulted in a 12% increase in funds under management to £8.3bn from £7.41bn.
Property assets under administration, managed by Braemar Estates, stood at £1.10bn, while third-party assets under administration were in excess of £270m.
Brooks MacDonald CEO Chris Macdonald said: “This has been a good year for the business in spite of some significant headwinds from political and market uncertainty.
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By GlobalData“Brooks Macdonald has come a long way over the last 25 years; we are well positioned strategically, have a strong balance sheet, are growing our brand, have high-quality staff across the Group, are working with an increasing number of professional intermediaries and are constantly developing our investment offering.
“We have made a good start to the new financial year, with further organic growth in discretionary FUM and look forward with confidence.”
