View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
May 31, 2019

Charles Stanley annual profit dips though FuM rises

British wealth manager Charles Stanley has reported pre-tax profit of £11m for the year ended 31 March 2019.

This is a fall of 3% from last year’s profit of £11.4m.

The firm’s annual revenue stood at £155.2m, versus £150.9m in the previous year.

All business divisions of the firm registered rise in revenue.

In Investment Management Services, revenue increased to £132.8m from £131.2m.

Asset Management revenue increased to £7.4m from £7m, while Financial Planning revenue increased to £7.3m from £6.3m.

Revenue at Charles Stanley Direct rose to £7.7m from £5.9m.

Funds under management and administration totalled £24.1bn at the end of March 2019, a rise of 1% from £23.8bn a year ago.

Discretionary funds increased 6% to £13.1bn from £12.3bn.

The 2019 dividend of 8.75 pence per share was 9% higher compared to 8 pence per share in 2018.

Commenting on the performance, Charles Stanley CEO Paul Abberley said: “As demonstrated by our results, the Group continues to deliver improvements in performance.

“I am confident that following the completion of the recently announced operating model restructure, Charles Stanley will be well placed to accelerate the rate of progress and deliver our medium-term target of a 15% profit margin.

“This will be achieved through top line growth alongside cost control to improve overall productivity.”

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy


Thank you for subscribing to Private Banker International