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February 26, 2014updated 04 Apr 2017 2:28pm

SJP’s profit before shareholder tax up 42% in 2013

British wealth management firm St. James' Place (SJP) has reported profit before shareholder tax of £190.7 million for its fiscal year 2013, an increase of 42% compared with £134.6 million a year ago.

By Verdict Staff

British wealth management firm St. James’ Place (SJP) has reported profit before shareholder tax of £190.7 million for its fiscal year 2013, an increase of 42% compared with £134.6 million a year ago.

On a European Embedded Value (EEV) basis operating profit for the year 2013 rose to £462.7 million, £365.9 million a year ago.

EEV net asset value per share was 575.3 pence, up from 461.0 pence in the prior year.

During the year, the group’s funds under management rose by 27% to £44.3 billion from£34.8 billion in 2012.

Total new single investments was £7.2 billion, up 22% from £5.9 billion a year ago. The firm registered net inflow of funds under management of £4.3 billion, a jump of 28% compared with £3.35 billion in 2012.

Commenting on the results, SJP CEO David Bellamy, said: "2013 will be remembered as one of the most significant years in our history.

"The continuing growth and maturity in funds under management has, as expected, translated into strong growth in profits and the underlying cash result. I am therefore pleased to confirm that the Board proposes a final dividend of 9.58 pence per share, taking the total dividend for the year to 15.96 pence per share, up 50% on 2012."

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