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The sector consolidation you mentioned last year happened then! Nice call :)
"All three divisions posted good revenue increases..."
"Total Funds under Management and Administration ("FuMA") increased by 5.9% over the quarter to £27.1 billion (31 March 2021: £25.6 billion). This rise compares favourably to a 4.3% increase in the MSCI PIMFA Private Investor Balanced Index..."
Commission and interest income down, BUT fee income up. Decent wee business with no debt, on a PER of 12 and paying 3.2% dividend.
Scope for conslidation in the sector. Lots of asset managers fishing in the same pool for new clients. Intense competition from international competitors and organisations with scale.
Surely this company has had its day. It hasn't moved with the times.
The old shoe factory in Luke Street may be no longer used but the company is still run by a management team lacking the skill for the modern age in my opinion.
Old school, old school boy network company that has gone nowhere for 15 years.
Takeover or bust within 5 years is my prediction.
levels...wont take much
I'm in it primarily for Charles Stanley Direct - hoping and expecting for this offering to gain traction
need I say more?
"This is a good result but reflects a comparison with what was a very poor quarter last year. Challenging market conditions and economic uncertainty had depressed financial activities and transaction volumes in the three months to December 2011," the company said. Business has since turned around as transaction volumes stabilised. Commission revenue increased 14.1% quarter-on-quarter along with fee income which rose 13.1% year-on-year and represents 61% of revenues. "This improvement in revenue occurred across all divisions with financial services posting an increase of 14.8% and Charles Stanley Securities an increase of 16.2% compared with the same quarter last year," the company said. "We anticipate that economic and market conditions will remain uncertain but are confident that our broadly based business mix and financial strength will allow us to continue to produce a creditable performance."
Wealth manager Charles Stanley Group reported a record 4.6 per cent increase in total client funds under management during the last quarter, according to an interim management statement Friday. The company posted £16.36bn as at December 31st, up from £15.64bn in the previous quarter. Results were driven in part by discretionary managed funds which rose 7.1% to £5.73bn. Revenue jumped 13.5% to £31.1m in the third quarter of 2012, following a poor performance in the same period the year earlier.
Top Director Sells Charles Stanley Group (CAY) Director name: Mr Gary Teper Amount sold: 7,026 @ 334.00p Value: £23,467
Charles Stanley Group (CAY) Director name: Mr Gary Teper Amount purchased: 7,026 @ 334.00p Value: £23,467
Stockbroking firm Charles Stanley said overall it expects to report six-month revenues at around the same level as last year as continued macro-economic trends continue to weigh on transaction volumes. The group said since its interim update in July this year it has seen a broad continuation of economic headwinds. "These conditions have continued to depress transaction volumes, leading to a reduction in commission income. Fee income has continued to grow and shows a material increase over the comparable period last year," it said in Monday's update. "Overall we expect to report revenues at around the same level as for the same period last year," it confirmed. Charles Stanley added that costs during the half-year have increased, partly as it deals with new assets from individuals and teams as well as a general increase in regulatory costs, which include a £1.4m contribution to the FSCS levy.
Its got to be worth having a few, just for the Divi? Suprised so light on people in here - Hello? Regards & GLTA +of course DYOR
Profit predictions down at Charles Stanley Date: Monday 03 Oct 2011 LONDON (ShareCast) - Stockbroking firm Charles Stanley has announced that revenue for the six months to 30 September will be at the same level for the same period the previous year, while profit will be down. The news comes after the firm suffered the effects of volatile macro-economic headwinds with commission levels and corporate finance fees comparably lower for the period. The group was keen to emphasise that it has seen a "solid performance" in the private client and financial services divisions with investment management fees and financial services revenues ahead over the same period last year. In a statement the group said: "Whilst elements of our operating cost base have been reduced in line with the market volatility and decline, the effect of inflation on our fixed costs means that profits overall are below those of the equivalent period for last year, due in the main to a reduction in revenues in the securities division. "Whilst it is difficult in these market conditions to see very far ahead, the group continues to see the opportunity for growth year on year." The share price fell 9.45% to 243p by 13:49.
http://www.investegate.co.uk/Article.aspx?id=201110030733173902P
Canaccord Genuity maintains its "buy" recommendation for stockbroker and investment management group Charles Stanley (CAY) with an increased target price of 467p, up from 460p, following a strong year-to-date performance. According to Canaccord, attractions of the investment case, beyond an undemanding valuation, include continued growth in assets under management, a track record of dividend increases, a strong balance sheet and the growing financial services division. Shares in Charles Stanley ended the day down by 0.5p at 323.5p.
the share price has dropped so much in recent times? the business is rumoured to be doing v well still but this is a sig drop recently.