Charles Stanley Group PLC - London-based wealth manager - Revenue rises by 12% to GBP91.9 million in the six months that ended September 30 from GBP81.9 million a year before, but pretax profit is held flat at GBP4.7 million from GBP4.8 million, partly due to costs associated with its pending takeover by Raymond James Financial Inc. Charles Stanley says its GBP278.9 million acquisition by the St Petersburg, Florida-based investment bank remains subject to UK Financial Conduct Authority approval but is expected to complete in December. Reports a record level of funds under management and administration of GBP27.4 billion, up 7.0% from GBP25.6 billion at the end of March. Raises its interim dividend by 33% to 4.0 pence per share from 3.0p.
Current stock price: 515.00 pence, same as takeover offer price
Year-to-date change: up 86%
By Tom Waite; thomaslwaite@alliancenews.com
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