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Interim Management Statement

26 Jan 2011 07:00

RNS Number : 0791A
Charles Stanley Group PLC
26 January 2011
 



Charles Stanley Group PLC

25 Luke Street

London

EC2A 4AR

T: 020 7739 8200

F: 020 7739 7798

DX: 123150 BROADGATE-1

www.charlesstanleyplc.co.uk 

 

 

INTERIM MANAGEMENT STATEMENT

26 January 2011

 

QUARTER ENDED 31 DECEMBER 2010

 

Charles Stanley Group PLC is pleased to announce that its revenue for the three months to 31 December 2010, the third quarter of its financial year 2010/11, was 13.7% higher, at ÂŁ32.3 million, than the comparable figure of ÂŁ28.4 million for the three months to 31 December 2009.

 

The second six months started strongly and the Group has seen a good performance across all three divisions.

 

Total client funds under management and administration rose during the quarter by 5.9% from ÂŁ13.5 billion at 30 September 2010 to ÂŁ14.3 billion at 31 December 2010. Within this figure the funds under discretionary management increased by 9.8% from ÂŁ4.1 billion to ÂŁ4.5 billion. For the same period, the FTSE 100 strengthened by 6.3% from 5549 to 5900 and the FTSE APCIMS Balanced Portfolio Index by 4.7%.

 

On 20 January 2011 the Financial Services Compensation Scheme ("FSCS") issued a press release announcing a second interim levy for 2010/11 for the costs of major investment failures. We have now received invoices from the Financial Services Authority setting out the allocation of this interim levy. The FSCS levy for 2010/11 for the Group totals ÂŁ2.6 million of which ÂŁ204,000 had been provided in our interim results for the six months to 30 September 2010.

 

Despite this, trading continues at good levels and while it is difficult to see very far ahead we feel a degree of optimism about the final quarter.

 

Quarter ended 31 December 2010

 

Private Clients

ÂŁ'000

 

Financial Services

ÂŁ'000

Charles Stanley Securities

ÂŁ'000

 

 

Other

ÂŁ'000

 

 

Total

ÂŁ'000

Commission

14,332

52

2,274

-

16,658

Fees

Investment Management

7,386

117

-

-

7,503

Administration

5,608

1,759

-

-

7,367

Corporate Finance

-

-

782

-

782

Other

-

-

-

5

5

Total

27,326

1,928

3,056

5

32,315

 

Quarter ended 31 December 2009

 

Private Clients

ÂŁ'000

 

Financial Services

ÂŁ'000

Charles Stanley Securities

ÂŁ'000

 

 

Other

ÂŁ'000

 

 

Total

ÂŁ'000

Commission

13,476

17

1,688

-

15,181

Fees

Investment Management

5,172

100

-

-

5,272

Administration

5,378

1,841

-

-

7,219

Corporate Finance

-

-

745

-

745

Other

-

-

-

6

6

Total

24,026

1,958

2,433

6

28,423

 

 

Nine months ended 31 December 2010

 

Private Clients

ÂŁ'000

 

Financial Services

ÂŁ'000

Charles Stanley Securities

ÂŁ'000

 

 

Other

ÂŁ'000

 

 

Total

ÂŁ'000

Commission

40,412

176

5,637

-

46,225

Fees

Investment Management

20,332

331

-

-

20,663

Administration

16,512

5,932

-

-

22,444

Corporate Finance

-

-

2,720

-

2,720

Other

54

54

Total

77,256

6,439

8,357

54

92,106

 

 

Nine months ended 31 December 2009

 

Private Clients

ÂŁ'000

 

Financial Services

ÂŁ'000

Charles Stanley Securities

ÂŁ'000

 

 

Other

ÂŁ'000

 

 

Total

ÂŁ'000

Commission

39,617

43

5,769

-

45,429

Fees

Investment Management

16,262

203

-

-

16,465

Administration

13,850

5,985

-

-

19,835

Corporate Finance

-

-

2,561

-

2,561

Other

81

81

Total

69,729

6,231

8,330

81

84,371

 

Funds under management and administration

31 Dec

2010

30 Sep

2010

 

Change

ÂŁbn

ÂŁbn

%

Discretionary funds under management

4.5

4.1

9.8%

Advisory funds under management

2.6

2.5

4.0%

Total funds under management

7.1

6.6

7.6%

Advisory dealing funds

3.0

2.9

3.4%

Execution only funds

4.2

4.0

5.0%

Total administered funds

7.2

6.9

4.3%

Total funds under management and administration

 

14.3

 

13.5

 

5.9%

 

 

 

For further information please contact

 

Charles Stanley Group PLC Canaccord Genuity Ltd

Peter Hurst, Director Simon Bridges

Michael Lilwall, Director Phone: 020 7050 6500

 

Magnus Wheatley, Head of Press & Public Relations Oriel Securities Ltd

Phone: 020 7149 6273 Neil Langford

Email: magnus.wheatley@charles-stanley.co.uk Phone: 020 7710 7600

Notes for editors

 

Charles Stanley Group PLC has four trading companies, Charles Stanley & Co. Limited, EBS Management Plc, CS Financial Solutions Limited and Garrison Investment Analysis Limited.

 

Charles Stanley & Co. Limited provides full-service stockbroking, financial planning and benefit consultancy and small and mid cap advisory and institutional broking.

 

EBS Management Plc provides specialist pensions administration services. CS Financial Solutions Limited is a specialist provider of corporate employee benefits services. Garrison Investment Analysis Limited markets unit trusts, open-ended investment company units and packaged financial products to private clients, both directly and in wrappers such as ISAs and pensions.

 

All four trading companies are regulated by the Financial Services Authority. The Group has 33 offices around the United Kingdom.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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