St. James's Place News
St. James's Place Half Year Results Announcement
Record new business and a 33% increase in the interim dividend
Watch the video below and hear from our Chief Executive Officer, David Bellamy, as he talks about our half year results for the six months to 30 June 2012.
- Total new business, on an APE basis, of £353.9 million (2011: £335.6 million)
- Total single investments of £2.76 billion (2011: £2.73 billion)
Funds under management
- Net inflow of funds under management of £1.51 billion (2011: £1.65 billion)
- Funds under management of £30.9 billion up 8% since the start of the year
- New business profits of £120.6 million (2011: £127.7 million)
- Group operating profit at £167.8 million (2011: £183.6 million)
- Total profit of £220.5 million (2011: £182.6 million)
- Net asset value per share 414.6 pence (2011: 379.6 pence)
- Profit before shareholder tax of £58.9 million (2011: £55.3 million)
- Net asset value per share 141.7 pence (2011: 127.4 pence)
- Post tax cash result £44.9 million (2011: £30.8 million)
- Interim dividend 4.25 pence per share up 33%
- Partnership numbers at 1,702 up 3% since the start of the year; in line with our commitment to grow the partnership 5-7% per annum
- 97% of our Partners qualified at diploma level or within one or two exams
- Further broadened the investment proposition offered to clients in the first half of the year, with the introduction of new funds and fund managers
- Significant interest in the re-launch of our Academy; third in-take for 2012 begins in September
David Bellamy, Chief Executive Officer, commented...
“I am very pleased to be reporting another strong set of results for St. James’s Place. Against a backdrop of continuing economic uncertainty and fragile markets, our Partners' ability to attract new investments once again demonstrates that clients, more than ever, value face to face relationships with advisers that they know and trust.
“During the first half of the year we attracted £2.76 billion of new funds which, together with the continued strong retention of existing client funds, has resulted in our funds under management growing by 8% to £30.9 billion. As expected the cash emergence from the existing business has grown strongly enabling us to announce a 33% increase in the interim dividend.
“As well as helping deliver these strong results, our Partners and support teams continue to make excellent progress on their professional qualifications, with over 2,000 of our community already qualified at diploma level. We are also attracting a number of very experienced new advisers and consequently we are extremely well placed for the new regulatory regime that will become effective at the end of the year.
“Despite the continued concerns surrounding Europe, we have a predictability about our new business flows and remain positive about our ability to deliver further growth for the remainder of the year.”
David Bellamy, Chief Executive Officer Tel: 020 7514 1963
Andrew Croft, Chief Financial Officer Tel: 020 7514 1963
John Sunnucks / Michelle Clarke Tel: 020 7353 4200
View the full press release (PDF) to find out more.
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