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Brewin Dolphin Hldgs (BRW)

  Print          Annual reports

Wednesday 28 January, 2009

Brewin Dolphin Hldgs

Interim Management Statement

RNS Number : 3466M
Brewin Dolphin Holdings PLC
28 January 2009
 




28 January 2009


Brewin Dolphin Holdings PLC


Interim Management Statement

Thirteen Week Period ende28 December 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 first quarter to 28 December 2008 is £51.0 million, 2% lower than the same period last year (31 December 2007: £52.1 million).


Total Income





Quarter to 

28 December 2008

Quarter to 

31 December 2007



£'000

£'000

% change





Investment management

48,966

47,177

+3.8%

Investment banking

2,072

4,908

-57.8%

Total income

51,038

52,085

-2.0%


The value of clients funds under the Group's management were as follows at 28 December 2008:-


Funds





At 

28 December

2008

At 

28 September 2008



£ billion

£ billion

% change

Discretionary funds

9.5

10.2

-6.9%

Advisory funds

7.4

8.5

-12.9%

Total managed funds

16.9

18.7

-9.6%






FTSE APCIMS Private Investor Series Balanced Portfolio



2,338



2,586



-9.6%


FTSE 100


4,217


5,089


-17.1%


As forewarned in the 2008 Annual Report, Investment Banking continued to find market conditions difficult in the first quarter. Against this Investment Management has seen inflows of discretionary funds, and income has risen by 4%.


The Group's balance sheet remains strong. Brewin Dolphin Limited, the Group's operating company, had a £20 million capital adequacy surplus at 28 December 2008.  The Board continues to believe firmly in the merits and soundness of our business model and long term prospects.


For further information please contact:


Jamie Matheson

Andrew Hayes/Wendy Baker

Executive Chairman  

Hudson Sandler

Brewin Dolphin  

020 7796 4133

020 7248 4400






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