Sign In
3 Oct 2011 07:33
Charles Stanley Group PLC
Pre-Close Trading Statement
Further to our interim management statement issued on the 29th July 2011, the Company is now providing a trading update for the six month period ended 30th of September 2011.
Since the 29th of July global stock markets have continued, in the face of increasingly strong macro economic headwinds, to be volatile. This has had an effect in particular on Charles Stanley Securities with commissions levels and corporate finance fees for the six month period down on the same period last year. At the same time the Group has seen a solid performance in the private client and financial services divisions with investment management fees and financial services revenues ahead over the same period last year. As a result we expect overall revenues for the six months to 30 September 2011 to be at the same level as for the comparable period last year.
Whilst elements of our operating cost base have been reduced in line with the market volatility and decline, the effect of inflation on our fixed costs means that profits overall are below those of the equivalent period for last year, due in the main to a reduction in revenues in the Securities division.
Whilst it is difficult in these market conditions to see very far ahead, the Group continues to see the opportunity for growth year on year.
For further information please contact:
Charles Stanley Group PLC
| |
James Rawlingson, Director
| 020 7149 6255 |
Michael Lilwall, Director
| 020 7149 6244 |
Notes for editors
Charles Stanley Group PLC has five trading companies, Charles Stanley & Co. Limited, EBS Management PLC, CS Financial Solutions Limited, Garrison Investment Analysis Limited and Jobson James Financial Services 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. Jobson James Financial Services Limited provides wealth management advice and services for both private and corporate clients including pensions and retirement planning.
All five trading companies are regulated by the Financial Services Authority. The Group has 33 offices around the United Kingdom.
Follow the stocks
