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St. James's Place annual results announcement

Strong financial performance across all areas of the business and 33% increase in the full year dividend

St. James’s Place plc (“SJP”), the wealth management group, today announces its annual results for the year ended 31 December 2010.

Financial highlights:

• EEV new business profit of £217.8 million (2009: £155.4 million) up 40%
• EEV operating profit of £332.6 million (2009: £228.9 million) up 45%
• EEV total profit of £455.0 million (2009: £363.2 million) up 25%
• EEV net asset value per share of 352.9p (2009: 284.5p per share) up 24%
• IFRS profit before shareholder tax of £84.2 million (2009: £49.9 million) up 69%
• Cash result of £48.3 million (2009: £23.5 million) up 106%
• Proposed final dividend of 3.975p (2009: 2.66p) up 49%, providing for a full year dividend of 6.0p (2009: 4.5p) up 33%

Other highlights:

• Total single investments of £4.75 billion (2009: £3.46 billion) up 37%
• Net inflow of funds under management of £3.0 billion (2009: £2.3 billion) up 30%
• Funds under management of £27.0 billion (2009: £21.4 billion) up 26%
• Partnership numbers at 1,552 (2009: 1,464) up 6%

David Bellamy , Chief Executive, commented:

“In 2010 we delivered a very strong performance across all areas of the business. We achieved growth in new business, increased the size of the Partnership, saw funds under management rise to an all time high of £27.0 billion and delivered strong profits on all measures. Consequently we are able to propose a significant increase in the dividend as the first step in a two year rebasing of the dividend.”

“Whilst the road to recovery for the UK economy is likely to remain challenging, the need for trusted financial advice is greater than ever. Given the market opportunity available to us, together with the continuing growth and development of the Partnership, we remain confident of our ability to achieve the 15-20% per annum new business growth target over the longer term.”

Enquiries:

David Bellamy, CEO	Tel: 020 7514 1963
Andrew Croft, Group Finance Director	Tel: 020 7514 1963
Tulchan Communications	Tel: 020 7353 4200
John Sunnucks / Mal Patel

View the full press release.