Released: 26 July 2007
26 July 2007
Rathbone Brothers Plc
Interim results for the 6 months to 30 June 2007
Rathbones announces record interim results
Rathbone Brothers Plc, a leading provider of discretionary fund management and wealth management services for private investors and trustees, announces its interim results for the half year ended 30 June 2007.
Highlights:- Operating income increased by 15.1% to £75.6 million (30 June 2006: £65.7 million).
- Profit before tax for the first half of the year was
£25.9 million (30 June 2006: £22.3 million
including
profit of £1.9 million for a part disposal of the Company s holding of the London Stock Exchange Plc). - Underlying profit before tax, which excludes gains from London
Stock Exchange Plc shares, for the first
half of the year was £25.9 million an increase of 27.0% (30 June 2006: £20.4 million). - Basic earnings per share rose by 15.0% to 44.4p (30 June 2006:
38.6p) with underlying basic earnings up
25.8% from 35.3p. - Interim dividend per share is increased by 18.5% to 16.0p
(2006: 13.5p) and is payable on 10 October
2007. - Total funds under management increased by 9.0% over the six
months to 30 June 2007 to £13.3 billion
compared with an increase in the FTSE/APCIMS Balanced Index of 3.0% over the same period. - Funds managed by Rathbone Unit Trust Management increased by
10.5% over the period to £2.1 billion
as at 30 June 2007.
Mark Powell, chairman of Rathbone Brothers Plc, commented:
"All parts of Rathbones have continued to attract inflows of new client funds. Within Rathbone Investment Management the underlying annualised rate of net organic growth during the period was 7.8% and in Rathbone Unit Trust Management it was 21.0%. These encouraging figures reflect continued emphasis on marketing in general and in particular our developing involvement with the investment management of funds held in self-invested personal pensions (SIPPs) offered by a variety of providers..
"We continue to experience encouraging levels of enquiry throughout the business and subject to there being no significant deterioration in world markets, Rathbones remains confident of the future.
For further information contact:
| Rathbone Brothers Plc | 020 7399 0000 |
| Mark Powell, Chairman | |
| Andy Pomfret, Chief Executive | |
| Emily Morris, Marketing Director | |
| Smithfield | |
| Reg Hoare/Miranda Good | 020 7360 4900 |
Notes for editors:
Rathbone Brothers Plc
Rathbone Brothers Plc specialises in providing, through its
subsidiaries, personalised investment management and wealth
management services for private investors and trustees, including
discretionary fund management, unit trusts, tax planning, trust and
company management, pension and banking services. It manages
£13.3 billion of funds, including £2.1 billion managed
by Rathbone Unit Trust Management Limited (as at 30 June 2007).
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