St. James’s Place, a UK-based wealth manager part-owned by Lloyds Banking Group, has posted pre-tax profit of £90.1 million (US$137 million) for the first half of 2013, an increase of 53% from £58.9 million (US$89.34 million) in the year ago period.
The company said in a statement that its net inflows of funds for the six months to 30 June 2013 increased 32% to £1.99 billion from £1.51 billion in the corresponding period of 2012.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The company’s funds under management climbed to £39.9 billion, up 29% from £30.9 billion a year ago.
Total new business, on an APE basis, was £426.5 million, up 21% compared to £353.9 million in the year ago half.
The money manager increased its first-half dividend by 50% to 6.38 pence a share.
David Bellamy, CEO of the company said: "Looking forward, everything we understand about our marketplace tells us that there has never been a greater need for reliable advice delivered by a trusted adviser and backed by a reputable company.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"Against this backdrop, the scale and strength of the company’s advice led approach to wealth management, twinned with a proven investment management proposition, positions St. James’s Place uniquely to benefit from the long term demographic and market opportunities in wealth management and reinforces our confidence in our ability to continue our growth in line with our medium term objectives."
