Revel Collect Regulatory News (RBG)

1 Aug 2008 07:00



Rensburg Sheppards plc

Interim Management Statement - 3 months ended 30 June 2008

Rensburg Sheppards plc, the investment led wealth management group, today publishes its Interim Management Statement for the three months ended 30 June 2008.

Net revenue* for the first quarter of this financial year declined 1.4% from that achieved by the group in the corresponding quarter of the prior year. The board considers this to be a resilient performance given the marked downturn experienced in the operating environment when comparing these periods. The table below analyses net revenue between the two business segments of the group:

* Revenue net of fees and commissions payable to introducers

During the three months ended 30 June 2008, the group's total funds under management declined by 2.3%. This compared favourably against the FTSE APCIMS Private Investors Balanced index which declined 2.7% over this period. An analysis of the group's funds under management by business segment is given below:

As announced in the group's preliminary results statement for the year ended 31 March 2008, the group opened a new office in Edinburgh in April 2008 which has started well. On 6 May 2008 the group made an early repayment of £5 million of capital against its subordinated loan obligations in addition to the first scheduled capital repayment of £5.625 million. 

Conditions remain challenging, with the period since 30 June 2008 having witnessed significant volatility and a further decline in the leading financial market indices. However, the board remains satisfied with the financial position of the group and with its prospects for developing the business further.

For further information, please contact:

Steve Elliott, Chief Executive Tel: 020 7597 1234

Jonathan Wragg, Finance Director Tel: 0114 228 6705

Rensburg Sheppards plc

Nick Lyon / James White  Tel: 020 7796 4133

Hudson Sandler