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Charles Stanley annual profit falls as lower interest income weighs
StockMarketWire.com
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Wealth manager Charles Stanley reported lower annual profit as lower interest income weighed on revenue.
For the year ended 31 March 2021, pre-tax profit decreased by 22.5% to £13.4 million year-on-year as revenue fell 1% to £171.2 million.
Funds under Management and Administration were up 26.7% at year end to £25.6 billion.
Interest income declined by 68.8%, average FuMA slipped to £23.2bn from £24.2bn, which reflected stock market disruption, the company said.
Final dividend of 9.0p per share proposed, increasing the total dividend by 33.3% to 12.0p per share.
Looking ahead, the company said trading conditions were expected to remain positive.
At 10:04am: (LON:CAY) Charles Stanley Group PLC share price was 0p at 275p
Story provided by StockMarketWire.com
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