Record breaking year at Evolution

2009 was a record breaking year on many fronts for investment management firm Evolution Group.Group income, private client income, investment banking income and assets under management all hit new highs.Total income more than doubled to £129.4m in 2009 from £63.9m, with investment banking income soaring 183% to £87m while private client income rose 23% to £42.4m.Assets under management jumped 37% to a record level of £5.2bn from £3.8bn the year before. Fund inflows at £322m were down from £550m the year before, but the number of private client accounts grew from 11,803 to 14,343. Statutory profit before tax was £11.1m, compared to a loss of £12.7m the year before. The company’s own adjusted profit before tax measurement showed profitability improving to £18,4m from £2.9m in 2008. ‘While activity levels last year remained depressed and investor sentiment proved highly sensitive to risk and volatility, the group nevertheless delivered an extremely impressive financial performance, with significant growth in both income and profit,’ said Martin Gray, chairman of Evolution.The final dividend has been increased by 34% to 1.70p, making the full year dividend 2.50p, up 24% on 2008’s level.