30 Jul 2008 07:00
INTERIM MANAGEMENT STATEMENT
QUARTER ENDED 30 JUNE 2008
As the chairman will advise shareholders at today's Annual General Meeting, Charles Stanley Group PLC announces that its revenue for the three months to 30 June 2008, the first quarter of its financial year 2008-09, was marginally lower at £25.4 million than the corresponding figure of £25.9 million for the three months to 30 June 2007.
As we stated in the preliminary announcement of our results for the year ended 31 March 2008, issued on 12 June 2008, we have purchased Truro Stockbrokers and the UK private client business of Insinger de Beaufort.
Total client funds under investment management and/or administration have decreased by 0.9% from £11.0 billion at 31 March 2008 to £10.9 billion at 30 June 2008. Within this figure the discretionary and advisory managed funds fell by 3.3% from £6.0 billion to £5.8 billion. For the same period the FTSE 100 has fallen by 1.3% from 5,702.1 at 31 March to 5,625.9 at 30 June and the APCIMS Balanced Portfolio Index has fallen by 2.7% from 2,801.8 at 31 March to 2,726.7 at 30 June.
Quarter ended 30 June 2008
| Private Clients £'000 | Charles Stanley Securities £'000 | Total £'000 | |
| Commission | 11,943 | 2,116 | 14,059 |
| Fees |
|
|
|
| Investment Management | 5,770 | 5,770 | |
| Administration | 4,681 | 4,681 | |
| Corporate Finance | 637 | 637 | |
| 22,394 | 2,753 | 25,147 | |
| Other | 203 | ||
| Total | 22,394 | 2,753 | 25,350 |
| 30 June 2008 | 31 March 2008 | Change % | |
| £bn | £bn | ||
| Discretionary funds under management | 3.1 | 3.1 | 0.0% |
| Advisory funds under management | 2.7 | 2.9 | (6.9)% |
| Total funds under management | 5.8 | 6.0 | (3.3)% |
| Advisory dealing funds | 2.3 | 2.2 | 4.5% |
| Execution only funds | 2.8 | 2.8 | 0.0% |
| Total administered funds | 5.1 | 5.0 | 2.0% |
| Total funds under management and administration | 10.9 | 11.0 | (0.9)% |
For further information please contact
Charles Stanley Group PLC Landsbanki Securities UK
Sir David Howard, Director Simon Bridges
Peter Hurst, Director Managing Director
Phone: 020 7739 8200 Phone: 020 7426 9000
Fax: 020 7149 6948
Notes for editors
Charles Stanley Group PLC is the parent company of Charles Stanley & Co Limited, one of the UK's leading independently owned, full service stockbroking, corporate finance and institutional advisory groups. As members of the London Stock Exchange since 1852, Charles Stanley is also one of the longest established UK brokers.
The company provides a comprehensive range of tailored personal investment services to private clients, trusts, charities and pension funds. The Charles Stanley corporate finance and institutional broking division, Charles Stanley Securities, specialises in providing comprehensive, specialist corporate advisory and equity research, sales and sales trading services.
Charles Stanley currently has some £10.9 billion of client funds under management and administration (at 30 June 2008). Through its regional network of 30 offices across England and Scotland, the Group provides private, corporate and institutional clients with a comprehensive range of discretionary, advisory and execution-only products and services.