Member Article

Brewin Dolphin profits up 36.5%

Investment giant Brewin Dolphin announced a 36.5% rise in profits before tax in its final results on Friday.

The firm, which offers financial planning and investment advice to private clients, has bases in London and Newcastle and currently manages just under £26bn.

Total income for the year ending 30th September came to £269.5m, up 2.1% from 2011, and discretionary funds totalled £18.2bn, up 16.7% year-on-year.

The 250-year old firm significantly increased its basic earnings per share by 37.9% to 9.1 pence, while the proposed final dividend for the year was posted at 3.6 pence per ordinary share.

Jamie Matheson, Brewin Dolphin’s executive chairman, commented: “[The group] has been able to make further progress during yet another year which has presented many challenges both here in the UK and across the globe.

“To make progress in this environment continues to reassure us that the services we provide remain relevant and valuable to our clients.”

The investment manager said its 2011 strategy to broaden its services and improve standards is well underway, adding that Brewin Dolphin has been a leader in becoming more transparent about its charges.

Mr Matheson concluded: “Many of the problems that caused concern in the financial services industry during the past year remain unresolved.

“However, equity markets have remained remarkably resilient and there is some sign of improved trading volumes since the summer.

“Demand for our services remains firm and [we are] confident that our strategy will ensure a successful future for your Group.

This was posted in Bdaily's Members' News section by Miranda Dobson .