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Brewin Dolphin Hldgs (BRW)

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Wednesday 30 July, 2008

Brewin Dolphin Hldgs

Interim Management Statement

RNS Number : 1592A
Brewin Dolphin Holdings PLC
30 July 2008
 




Brewin Dolphin Holdings PLC


Interim Management Statement

Nine Months Ended 27 June 2008


Brewin Dolphin Holdings PLC, the UK's largest independent private client investment manager, announces its Interim Management Statement (IMS) as required by the UK Listing Authority's Disclosure and Transparency rules.


Income for the third quarter is down 13% over the same period last year. Income for the nine months to 27 June 2008 is £155.4 million, 1% lower than the same period last year (29 June 2007: £156.9 million).


The FTSE APCIMS Balanced Index has declined by 10.5% over the nine month period. By contrast Brewin Dolphin's discretionary funds have fallen by only 3.7%. This steady performance in challenging market conditions arises from the Group's strategy of pursuing growth through the addition of new teams, as well as organic growth from its existing offices.


The core business of Investment Management has held up well but, as indicated in the Interim Financial Report for the six months to 30 March 2008, Investment Banking has had a quiet third quarter.


The Board continues to have confidence in the Company's long term prospects.


Total Income





Third Quarter to

27 June 2008

Third Quarter to

29 June 2007



£'000

£'000

% change





Investment management

49,091

46,993

+4.5%

Investment banking

2,222

11,955

-81.4%

Total income

51,313

58,948

-13.0%


The value of clients funds under the Group's management were as follows at 27 June 2008:-


Funds





At 

27 June 

2008

At 

30 September 2007



£ billion

£ billion

% change

Discretionary funds

10.3

10.7

-3.7%

Advisory funds

9.1

10.9

-16.5%

Total managed funds

19.4

21.6

-10.2%






FTSE APCIMS Private Investor Series Balanced Portfolio


2,710


3,029


-10.5%


FTSE 100


5,530


6,467


-14.5%


For further information please contact:


Jamie Matheson

George Cazenove

Executive Chairman

Citigate Dewe Rogerson

Brewin Dolphin


020 7248 4400

020 7638 9571





This information is provided by RNS
The company news service from the London Stock Exchange
 
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