Half Year Results 2016

27 Jul 2016

See all news

Half Year Results Announcement

FUNDS UNDER MANAGEMENT AT £65.6 BILLION FOLLOWING RECORD FUND FLOWS

Watch the video below and hear from our Chief Executive, David Bellamy, as he talks about our half year results for the six months to 30 June 2016.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

New Investment and Funds under Management

  • Gross inflow of funds under management of £5.3 billion (2015: £4.4 billion)
  • Continued strong retention of client funds
  • Net inflow of funds under management of £3.1 billion (2015: £2.7 billion)
  • Group funds under management of £65.6 billion (2015: £55.5 billion)

St. James’s Place Partnership

  • Partnership numbers at 2,320 up 2.5% since the start of the year
  • Total number of advisers at 3,259 up 4.7% since start of the year

Profit

EEV basis

  • New business profits of £228.9 million (2015: £205.9 million)
  • Operating profit at £284.0 million (2015: £265.3 million)
  • Net asset value per share 791.9 pence (2015: 683.7 pence)

IFRS basis

  • Underlying profit before shareholder tax of £73.8 million (2015: £72.9 million)
  • Profit before shareholder tax of £60.5 million (2015: £67.0 million)
  • Net asset value per share 201.2 pence (2015: 189.3 pence)

Cash result

  • Underlying post tax cash result of £94.4 million (2015: £84.9 million)

Interim Dividend

  • Interim dividend 12.33 pence per share (2015: 10.72 pence per share)

David Bellamy, Chief Executive, commented:

“Despite continued volatility in world stock markets and political uncertainty across Europe, I am pleased to once again be reporting a strong first half performance and continued positive momentum in our business. Bearing testament to the reassuring consistency and resilience of our business, I am particularly pleased that we achieved record gross and net inflows in the second quarter, up 23% and 25% respectively. That, together with our usual high retention results and good performance of our client funds, has increased our funds under management by £10 billion in the last 12 months.

Whilst the UK’s decision to leave the EU has created a period of economic uncertainty in the UK, the challenges and responsibilities that many people face when considering how to manage their wealth and the ever changing tax considerations, remain. We believe we are extremely well placed to meet this increasing need for advice and remain focused on growing our number of qualified advisers and providing them with all the tools and support to deliver high quality outcomes for clients.

Consequently, without being complacent about the possible consequences of Brexit, the proven strength in our business model and ongoing momentum gives us confidence in our ability to deliver continued growth in line with our objectives. Indeed, I can report that new fund flows since the Referendum remain in line with those medium term objectives.

Given the continued strong business performance, the Board has declared a 15% increase in the interim dividend to 12.33 pence per share. We intend to continue to grow the dividend in line with the underlying performance of the business, as previously stated.”

The details of the announcement are attached.

Enquiries:

David Bellamy, Chief Executive
Andrew Croft, Chief Financial Officer
Tony Dunk, Investor Relations Director
Tel: 020 7514 1963
Tel: 020 7514 1963
Tel: 020 7514 1963
Bell Pottinger
John Sunnucks & Ben Woodford
Tel: 020 3772 2566
Email: Bwoodford@BellPottinger.com

View the full press release.

Get adobe reader

Most computers will open PDF documents automatically, but you may need to download Adobe Reader.