CAY.L Regulatory News (CAY)

24 Jan 2008 07:00

Charles Stanley Group PLC24 January 2008 INTERIM MANAGEMENT STATEMENT QUARTER ENDED 31 DECEMBER 2007 Charles Stanley Group PLC is pleased to announce that its revenue for the threemonths to 31 December 2007, the third quarter of its financial year 2007-08, was13.9% higher, at £26.2 million, than the comparable figure of £23.0 million forthe three months to 31 December 2006. Adding to the results announced in theinterim report, revenue for the nine months to 31 December 2007 was 11.4%higher, at £78.7 million, than the comparable figure of £70.6 million for thenine months to 31 December 2006. As we have indicated previously, this has been a year of significantacquisitions and expansion. We have acquired Garrison Investment Analysis Ltdand a new branch in Exeter, we have opened new branches in Guildford and Bristoland we have also been joined by a specialist Court of Protection and personalinjury awards investment management team in London. Each of these has performedstrongly and has contributed to the increase in revenue, but it is to beexpected that they will operate at reduced margins in the first period ofoperations, as well as incurring one-off costs. Total client funds under investment management or administration increasedduring the quarter by 1.5% from £11.5 billion at 30 September 2007 to £11.6billion at 31 December 2007. Within this figure the funds under discretionarymanagement rose by 6.1% from £3.0 billion to £3.1 billion. For the same period,the FTSE 100 fell by 0.2% from 6,467 to 6,457 and the FTSE APCIMS BalancedPortfolio Index by 0.1%. Since 31 December 2007, the FTSE 100 has fallen 13%,and the FTSE APCIMS Balanced Portfolio Index has fallen 8%. Progress continues to be made despite the current turbulence in markets. Whilesuch conditions bring greater unpredictability to the short-term outlook,historically they have given rise to enhanced opportunities for acquisitions. 3 months ended 31 3 months ended 31 Change Dec 2007 Dec 2006 £'000s £'000s Revenue 26,206 23,005 13.9% 31 Dec 2007 30 Sep 2007 Change £ bn £ bn Total funds under management oradministration 11.64 11.47 1.5% Of which: Discretionary funds undermanagement 3.13 2.95 6.1% For further information please contact Charles Stanley Group PLC Landsbanki Securities UKMike Lilwall, Director Simon BridgesPhone: 020 7739 8200 Managing DirectorFax: 020 7953 2948 Phone: 020 7426 9000 24 January 2008 Note 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 LondonStock Exchange since 1852, Charles Stanley is also one of the longestestablished UK brokers. The company provides a comprehensive range of tailored personal investmentservices to private clients, trusts, charities and pension funds. The CharlesStanley corporate finance and institutional broking division, Charles StanleySecurities, specialises in providing comprehensive, specialist corporateadvisory and equity research, sales and sales trading services. Charles Stanley currently has some £11.64 billion of client funds undermanagement and administration (at 31 December 2007). Through its regionalnetwork of 28 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. This information is provided by RNS The company news service from the London Stock Exchange