St James's Place Regulatory News (STJ)

2 May 2007 07:00

St. James's Place PLC02 May 2007 PRESS RELEASE 2 May 2007 New business figures for the three months ended 31 March 2007 St. James's Place plc ("SJP"), the wealth management group, today announces itsnew business figures for the three months ended 31 March 2007. The text of the announcement is attached: Enquiries: Mike Wilson, Chairman Tel: 020 7514 1907Brunswick Tel: 020 7404 5959 ST. JAMES'S PLACE GROUP NEW BUSINESS FIGURES FIRST QUARTER 2007 41% GROWTH IN NEW BUSINESS 3 months to 31 March 2007 Change• Long Term Savings New Business* Investment £52.8 million + 22% Pensions £40.2 million + 95% Protection £4.8 million - 14% Total £97.8 million + 41%* see note 1 • Wealth Management Services Gross fees generated £7.9 million + 22% • Funds under management at £16.3 billion up 6% since the start of the year and up 21% over the previous twelve months Mike Wilson, Chairman, commented: "We are delighted with the first quarter new business growth and the continuedmomentum of the business. "These results once again demonstrate the strength of our dedicated distributionthe St. James's Place Partnership and the increasing demand for quality advice. "The much stronger new business comparatives during the remainder of the yearwill see our relative growth slow. However, the strong first quarter means thatwe are well placed to achieve our longer term growth objective of 15-20% perannum in the current year." ST. JAMES'S PLACE GROUP NEW BUSINESS FIGURES FIRST QUARTER 2007 LONG TERM SAVINGS Unaudited 3 Months to 31 March 2007 NEW PREMIUMS 2007 2006 Change £'m £'m % New Regular Premiums Pensions 17.0 9.3 83% Protection 4.8 5.6 (14%) 21.8 14.9 46% New Single Premiums Investment 350.8 288.9 21% Pensions 232.3 113.0 106% 583.1 401.9 45% Unit Trust Sales 177.2 143.4 24% (including PEPs and ISAs) NEW BUSINESS 2007 2006 Change (RP + 1/10th SP) £'m £'m % Investment 52.8 43.2 22% Pensions 40.2 20.6 95% Protection 4.8 5.6 (14%) Total 97.8 69.4 41% ST. JAMES'S PLACE GROUP NEW BUSINESS FIGURES FIRST QUARTER 2007 Notes 1. New business from long term savings is calculated in accordance with the standard industry measure of adding together new regular premiums and one-tenth of single premiums and unit trust sales ('APE'). 2. Sales of manufactured business on an APE basis for the three months was 89% of the total reported (2006: 87%). Sales of non-manufactured pensions including stakeholder by St. James's Place Partnership have been included in the reported figures under Pensions. These amount to £4.1 million new regular premiums (2006: £3.5 million) and £6.2 million single premiums (2006: £8.6 million) for the three months to 31 March 2007. This equates to £4.7 million new business premiums (2006: £4.4 million). Sales of annuities by St. James's Place Partnership have been included in the reported figures under Pensions. These amount to £15.7 million single premiums (2006: £9.3 million) for the three months to 31 March 2007 and equate to £1.6 million new business premiums (2006:£0.9 million). Sales of protection business by St. James's Place Partnership through a panel of providers have been included in the reported figures under New Regular Premium Protection. These amount to £2.8 million of new regular premiums (2006: £3.5 million) for the three months to 31 March 2007. This equates to £2.8 million new business premiums (2006: £3.5 million). Sales of non-manufactured single premium investment business amounting to £16.5 million (2006: £0.3 million) have been included in the figures under investments for the three months to 31 March 2007. This equates to £1.6 million new business premiums (2006: £0 million). This information is provided by RNS The company news service from the London Stock Exchange