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St James’s Place PLC on Thursday reported a ‘strong operating and financial performance’ in the first half of 2025 with funds under management hitting a new high. In response, shares in the company rose 5.3% to 1,232.00 pence in London on Thursday morning, the third best gainer in the FTSE 100 index, itself up just 0.3%. The Cirencester, Gloucestershire-based wealth manager reported IFRS pretax profit of £367.9 million in the six months to June 30, up 63% from £225.1 million a year ago. Basic earnings per share increased 73% to 52.0 pence from 30.1p with diluted EPS of 51.6p, up 73% from 29.9p. Total funds under management rose 9.1% to £198.5 billion from £181.9 billion with net inflows doubling to £3.8 billion from £1.9 billion. Gross inflows grew 23% to £10.5 billion from £8.5 billion. Chief Executive Mark FitzPatrick, said it was a ‘strong operating and financial performance’. Retention of client funds under management ‘remained high’, which together with ‘positive investment performance for clients, drove FUM to a record’, he said. Beyond new business, the first half was a busy period of ‘heavy lifting’, FitzPatrick said, noting efforts towards introducing a new charging structure in August and the review of historic client servicing records. The CEO said cost and efficiency programme is proceeding as expected, and ‘we are confident in delivering against our plan to take around £100 million out of our addressable cost base by 2027.’ ‘The strategic progress we are making will strengthen our business for the future, ensuring we are best placed to continue to capitalise on the compelling market opportunity in UK wealth management. The demand and need for financial advice are high and here to stay,’ FitzPatrick said. The dividend was maintained at 6.0 pence per share. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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