9 May 2019 11:07
Senior roles at risk as Charles Stanley looks to streamline business
(Sharecast News) - Wealth manager Charles Stanley has announced plans to cut senior management roles as it looks to streamline the business.
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Don't have an account? Click here to register.Charles Stanley beats forecasts with full-year numbers, raises payout
Fri, 31st May 2019 07:56
(Sharecast News) - Charles Stanley posted better-than-expected full-year results on the back of a better-than-anticipated performance in UK equity markets that buoyed its funds under management and administration, bumping up its dividend payout in the process."However, given the extent of the equity market rally earlier this year, we anticipate much more modest returns over the remainder of the year," the company said in a statement."The long-term prospects for equities remain positive, but equities are likely to pause for breath until evidence of better economic growth emerges."For the year ending on 31 March, the private client investment management firm posted a 2.8% increase in reported revenues to £155.2m (Cannacord Genuity:£149.4m) as total funds under management and administration hit £24.1bn (Cannacord Genuity: £22.6bn).Together with an increase in its 'core' pre-tax margin from 8.8% to 9.2%, that drove a 6.4% rise in core business profits before tax to £11.6m (Cannacord Genuity: £10.1m).Core earnings per share printed at 17.74p (Cannacord Genuity: 15.7p), helped by a lowed than expected tax rate of 18.2% (Cannacord Genuity: 21.0%).Discretionary funds also increased, by 6.5% to £13.1bn.The firm also disclosed that it expected to incur in £9.5m of restructuring costs over the next two to three years, which were expected to yield annual savings in excess of £4.5m from 2022 onwards, with costs savings expected to start coming through immediately."The restructuring will result in a net charge to the Group's profit in the financial year ending 2020 but be positive thereafter," the company added.Charles Stanley was aiming for a medium-term profit margin of 15%.Cash on hand at period-end jumped by 23.7% to £81.2m, alongside an improvement in its capitao solvency ratio from 177% for 2018 to 214% in 2019.The full-year dividend meanwhile was hiked by 9.4% to 8.75p per share.-- More to follow --
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6 Mar 2019 16:51
Charles Stanley Group Raises Oxford Metrics Stake To Over 10% (ALLISS)
LONDON (Alliance News) - Financial software firm Oxford Metrics PLC said on Wednesday Charles Stanley Group PLC has boosted its stake by 4%.In a transaction Tuesday, Charles Stanley upped a
Read more23 Nov 2018 14:21
DIRECTOR DEALINGS: Charles Stanley Chief Executive Purchases Shares
LONDON (Alliance News) - Charles Stanley Group PLC said Chief Executive Officer Paul Abberley acquired shares in the investment management company in a transaction on Friday.Abberley bought
Read more23 Nov 2018 13:13
Friday broker round-up
(Sharecast News) - Kingfisher: Goldman Sachs downgrades to neutral with a target price of 270p.
Read more22 Nov 2018 12:07
Charles Stanley Interim Profit Drops But Managed Funds Increase
LONDON (Alliance News) - Charles Stanley Group PLC on Thursday reported a drop in interim profit but the wealth manager increased its funds under management and upped its dividend the six months a
Read more24 Jul 2018 13:28
Charles Stanley funds under management up 4.6% in first quarter
(Sharecast News) - Charles Stanley posted a jump in first-quarter funds under management on Tuesday, driven by a positive market performance.
Read more24 Jul 2018 13:17
Tuesday broker round-up
(Sharecast News) - Britvic: Shore Capital Markets downgrades to hold.
Read more13 Jun 2018 09:49
Charles Stanley Hikes Dividend By Third As Revenue Rises In Full-Year
LONDON (Alliance News) - Charles Stanley Group PLC on Wednesday raised its dividend following strong revenue and profit growth in its recently ended financial year.Charles Stanley lifted by
Read more22 Mar 2018 18:10
Charles Stanley Holds 5.0% Interest In Portmeirion (ALLISS)
LONDON (Alliance News) - Portmeirion Group PLC said on Thursday that Charles Stanley Group PLC now holds a 5.01% interest in the company in a transaction on has not been what
Read more24 Nov 2016 08:50
8 Sep 2016 11:16
Charles Stanley sells Luke Street lease for £5.6m
(ShareCast News) - Investment management company Charles Stanley has sold its long lease in Shoreditch for £5.6m as part of an office consolidation. The firm exchanged contracts for the sale of the 35 Luke Street property's lease on Thursday and the proceeds will offset the one-off costs involved in
Read more30 Aug 2016 11:57
16 Jun 2016 17:08
Broker tips: Charles Stanley, Playtech, Berkeley Group
(ShareCast News) - Cannacord Genuity lowered its target price on the shares of Charles Stanley and lowered its recommendation from 'buy' to 'hold' after the broker announced it would likely take between 12 to 18 months longer than originally anticipated (by the year to 31 March 2020) to reach its ta
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