Information  X 
Enter a valid email address

Brewin Dolphin Hldgs (BRW)

  Print          Annual reports

Monday 30 July, 2012

Brewin Dolphin Hldgs

Interim Management Statement

RNS Number : 7458I
Brewin Dolphin Holdings PLC
30 July 2012
 



30 July 2012

Brewin Dolphin Holdings PLC

 

Interim Management Statement

Thirteen Week Period ended 30 June 2012

 

This Interim Management Statement ("IMS") is issued by Brewin Dolphin Holdings PLC as required by the UK Listing Authority's Disclosure and Transparency rules. The IMS relates to the third quarter to 30 June 2012.

 

Income

Income for the third quarter to 30 June 2012 was £66.8 million, 4.4% higher than the same period last year (26 June 2011: £64.0 million).

 

Recurring income now represents 67% of total income. This is partly due to the Group moving towards a transparent fee based model in accordance with our strategy, but also reflects a significant fall in the volume of trades in line with the market as a whole; volumes were down 26% in the first quarter of the year, 11% in the second quarter and 17% in the third quarter.

 

Total Income1









Quarter to

Quarter to

% change


30 June 2012

26 June 2011



£'000

£'000






Non-recurring income

20,608

25,096

-17.9%

Recurring income

42,013

35,022

20.0%


62,621

60,118

4.2%

Other operating income

4,150

3,854

7.7%

Total income

66,771

63,972

4.4%










 39 weeks to

39 weeks to

% change


 30 June 2012

26 June 2011



 £'000

£'000






Non-recurring income

64,805

78,828

-17.8%

Recurring income

120,628

104,907

15.0%


185,433

183,735

0.9%

Other operating income

12,716

11,702

8.7%

Total income

198,149

195,437

1.4%





1 Income excludes income generated by the Corporate Advisory and Broking Division which has been disposed of.

 



Funds under Management

The value of clients' funds under the Group's management was as follows:

 






Advisory funds under management

Discretionary funds under management

Total managed funds


£ billion

£ billion

£ billion

Value of funds at 30 September 2011

 8.4

 15.6

24.0

Inflows

 0.1

 1.0

1.1

Outflows

(0.6)

(0.6)

 (1.2)

Transfers

(0.3)

 0.3

-

Market movement

 0.2

 0.9

1.1

Value of funds at 30 June 2012

 7.8

 17.2

25.0





% increase in funds since 30 September 2011

-7.1%

10.3%

4.2%

 

 

Indices





At

30 June

2012

At

30 September 2011

% Change

FTSE APCIMS Private Investor Series Balanced Portfolio

2,940

2,735

7.5%

FTSE 100

5,571

5,128

8.6%

 

As mentioned above the Group has been moving to a transparent fee based charging basis. Approximately half the outflow of funds relates to attrition arising from this change.

 

Cash and Capital Adequacy

The Group currently has a consolidated capital adequacy surplus of £18.3 million. Group cash balances excluding client balances as at 30 June 2012 were £55 million.

 

Systems Changes

The major programme to move on to new systems by September 2013 remains on track and on budget.

 

 

For further information please contact:

 

Jamie Matheson

Andrew Hayes/Wendy Baker

Executive Chairman

Hudson Sandler

Brewin Dolphin


020 7248 4400

020 7796 4133

 

 

Notes for editors

 

1.

The Group is made up of Brewin Dolphin Holdings PLC and it subsidiaries (the "Group").

2.

Brewin Dolphin Limited  is the principal operating company of Brewin Dolphin Holdings PLC, it is authorised and regulated by the Financial Services Authority and is a member of the London Stock Exchange. Tilman Brewin Dolphin Limited is the Group's Irish subsidiary.

 

3.

The Brewin Dolphin Group is one of the largest independent private client investment managers in the United Kingdom and manages £25 billion on behalf of private clients, charities and pension funds from its 41 regional offices and one office in Dublin.

 

4.

The Group provides a complete investment management and financial planning service for private investors, charities and pension funds. Stocktrade is the Group's Execution-Only telephone and on-line dealing division.

 

 

 

 

 


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

a d v e r t i s e m e n t