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Brewin Dolphin Hldgs (BRW)

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Wednesday 29 July, 2009

Brewin Dolphin Hldgs

Interim Management Statement

RNS Number : 4346W
Brewin Dolphin Holdings PLC
29 July 2009
 





   



29 July 2009


Brewin Dolphin Holdings PLC


Interim Management Statement

Thirty Nine Week Period ende2June 2009


Brewin Dolphin Holdings PLC announces its Interim Management Statement (IMS) as required by the UK Listing Authority's Disclosure and Transparency rules.


Income for the third quarter to 28 June 2009 is £51.4 million, broadly the same as the comparative period last year (27 June 2008: £51.3 million) and in line with the Board's expectations. Income for the thirty nine weeks to 28 June 2009 is £156.2 million (27 June 2008: £155.4 million).


During the period funds under management declined by 5.9% to £17.6 billion. Discretionary funds under management have fallen by only 1% against a drop in the FTSE 100 Index of 16.7% and a fall in the FTSE APCIMS Private Investor Balanced Portfolio Index of 10.4%.


Two new offices are opening this summer, taking the Group to a total of 40 branches across the UK. One in Truro, with a team of six investment managers and their support staff, will extend the Group's reach in the West Country The other in Brighton will be joined by our long established Eastbourne officemaking up a twenty strong team. 


The core business has held up well against the market back drop and Investment Banking has shown some improvement. The Group continues to have a strong balance sheet with firm's net cash balance of £38.5 million (27 June 2008: £43.0 million).


Total Income






Quarter to 

Quarter to 



28 June

27 June



2009

2008







£'000

£'000

% change

Investment management

49,117

49,091

0.1%

Investment banking

2,328

2,222

4.8%

Total income

51,445

51,313

0.3%














39 weeks to

39 weeks to



28 June

27 June



2009

2008







£'000

£'000

% change

Investment management

150,321

145,636

3.2%

Investment banking

5,842

9,774

-40.2%

Total income

156,163

155,410

0.5%






  

The value of clients funds under the Group's management were as follows at 2June 2009:-




 At 

28 

June 

2009 

 At 

28 September 2008 

 % 

change 

Indices




FTSE APCIMS Private Investor Series Balanced Portfolio

2,318

2,586

-10.4%

FTSE 100

4,241

5,089

-16.7%





Funds





£ billion

£ billion


Discretionary funds under management

10.1

10.2

-1.0%

Advisory funds under management

7.5

8.5

-11.8%

Total managed funds

17.6

18.7

-5.9%




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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