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.
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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.
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By GlobalData"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."
