logo-loader

St James's Place sees further growth despite economic uncertainty

Published: 12:52 28 Jul 2010 BST

no_picture_pai

UK-based wealth manager, St James's Place (LON:SJP) reported a third consecutive quarter of record figures as the company’s Q2/H1 interims showed a 60% increase in operating profit to £162.1m (H109: £101m). Chief executive David Bellamy expects the company to deliver further growth over the rest of the year, despite the uncertainty in the economy and stock market.

The growth in the six-months to 30 June has been driven by an influx of new business - up 44% to £292.6m - and a £1.5bn net inflow of investor funds which saw funds under management reach £22.5bn.

The company said it has continued it strong retention of existing clients' funds, and that its own ‘manufactured business’ now represents 91% of all new business.

Operating profit rose 60% to £162.1m, with new business profits up 65% to £100.9m. Consequently, net asset value per share grew by 26% to 294.9p (H109: 234.3p) and the company has increased its interim dividend by 10% to 2.025p.

Oriole Resources outlines 2023 achievements and future exploration plans

Oriole Resources PLC (AIM:ORR) CEO Tim Livesey and chief financial officer Bob Smeeton join Proactive's Stephen Gunnion with details of the company's 2023 financial and operational performance. Livesey highlighted successful exploration programs in Cameroon, at the Bibemi and Mbe projects,...

35 minutes ago