Less Ads, More Data, More Tools Register for FREE

Pin to quick picksQuilter Share News (QLT)

Share Price Information for Quilter (QLT)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 113.40
Bid: 112.90
Ask: 113.10
Change: -0.80 (-0.70%)
Spread: 0.20 (0.177%)
Open: 116.50
High: 116.50
Low: 112.50
Prev. Close: 114.20
QLT Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Quilter annual profit up sharply as "supportive" markets boost inflows

Wed, 06th Mar 2024 07:50

(Alliance News) - Quilter PLC on Wednesday characterised its 2023 financial performance as "strong" after "supportive" markets helped drive inflows, which grew at a slower, though.

The London-based wealth manager said pretax profit surged 35% to GBP88 million in 2023 from GBP65 million in 2022.

Total income swung to GBP4.63 billion from a loss of GBP4.04 billion.

"2023 was a year of strong delivery. We wrote a higher level of new business and delivered record profitability through higher revenues and 3% lower costs," Quilter Chief Executive Officer Steven Levin said.

As at December 31, assets under management and administration rose 7.1% to GBP106.7 billion from GBP99.6 billion as at December 1, 2022. This, the company said, reflected "supportive" markets into year-end, combined with a modest contribution from net flows.

Net inflows fell to GBP500 million in 2023 from GBP1.8 billion in 2022. Gross flows rose 6.7% to GBP11.2 billion, compared to GBP10.5 billion, however.

Quilter declared a final dividend of 3.7 pence, up 12% from 3.3p, lifting the total payout up 16% to 5.2p from 4.5p.

Looking ahead, the company said it expects flows will continue to improve over 2024 as consumer and market sentiment returns to more normal levels.

"The structural need to save for retirement combined with our growth plans and focus on operational efficiency, supported by a strong balance sheet, means we are well positioned as market conditions improve," it said.

In London, shares in Quilter closed at 101.60 pence on Tuesday. They gained 5.0% to ZAR25.51 in Johannesburg early Wednesday.

By Artwell Dlamini, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
17 Jan 2023 08:56

LONDON MARKET OPEN: Stocks in the red as inflation slashes UK wages

(Alliance News) - Stock prices in London opened in the red on Tuesday morning after a report showing that inflation-adjusted pay in the UK shrank at one of the fastest rates on record late last year.

Read more
17 Jan 2023 08:25

JPMorgan downgrades Quilter, puts stock on 'negative catalyst watch'

(Sharecast News) - JPMorgan Cazenove downgraded Quilter on Tuesday to 'underweight' from 'neutral' and cut the price target to 74p from 83p, placing the stock on 'negative catalyst watch'.

Read more
17 Jan 2023 07:57

LONDON BRIEFING: UK real earnings continue to fall; stocks called down

(Alliance News) - Stocks in London were set to open flat on Tuesday, after UK unemployment and earnings data and as the Bank of Japan kicked off its two-day policy meeting.

Read more
9 Jan 2023 15:30

Quilter expects full-year assets under management to fall in 2022

(Alliance News) - Quilter PLC said on Monday it expected assets under management and under administration for 2022 to fall due to "adverse market movements".

Read more
9 Jan 2023 15:25

Quilter FY net flows drop amid adverse market movements

(Sharecast News) - Wealth manager Quilter warned on Monday that positive net flows throughout 2022 had been offset by adverse market movements.

Read more
6 Dec 2022 10:26

LONDON BROKER RATINGS: JPMorgan cuts Lloyds but raises Barclays

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
25 Nov 2022 12:03

IN BRIEF: Quilter Chair Ruth Markland buys 82,000 shares

Quilter PLC - London-based wealth manager - Chair Ruth Markland buys 82,267 shares at GBP1.05 each, worth GBP86,136, in London on Thursday.

Read more
14 Nov 2022 13:59

Incoming Quilter chair Glyn Barker steps down

(Sharecast News) - Wealth manager Quilter - formerly Old Mutual - said on Monday that chair designate Glyn Barker has stepped down for personal reasons.

Read more
14 Nov 2022 11:11

Quilter chair designate steps down; senior director takes over

(Alliance News) - Quilter PLC announced on Monday that its chair designate, Glyn Barker, has stepped down for personal reasons.

Read more
10 Nov 2022 13:45

Quilter says no intention to make political donations amid AGM vote

(Alliance News) - Quilter PLC said on Thursday it had no intention to make political donations and had not done so since it listed in London and Johannesburg in 2018.

Read more
27 Oct 2022 10:14

LONDON BROKER RATINGS: Kepler Cheuvreux starts Haleon at 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday afternoon:

Read more
19 Oct 2022 09:14

Quilter net inflows down in third quarter amid tough market backdrop

(Alliance News) - Quilter PLC said on Wednesday net inflows and assets under management declined in the third quarter, reflecting a challenging market backdrop with both bond and equity values falling.

Read more
19 Oct 2022 08:05

Quilter 'resilient' after tougher third quarter

(Sharecast News) - Quilter reported "resilient" gross and net flows in its third quarter update on Wednesday, amid a "volatile" market environment.

Read more
13 Oct 2022 10:14

LONDON BROKER RATINGS: Mondi and Smurfit Kappa raised, DS Smith cut

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
13 Oct 2022 07:50

LONDON BRIEFING: Entain looks to World Cup; easyJet revenue improves

(Alliance News) - Stocks in London were called lower on Thursday as investors look ahead to an afternoon which may deliver the final nail in the coffin for hopes of a dovish tilt by the US Federal Reserve.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.