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CAY Charles Stanley Group Plc

512.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Charles Stanley Group Plc LSE:CAY London Ordinary Share GB0006556046 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 512.50 510.00 515.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Charles Stanley Group PLC Trading Update (5861C)

23/01/2018 7:00am

UK Regulatory


Charles Stanley (LSE:CAY)
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RNS Number : 5861C

Charles Stanley Group PLC

23 January 2018

23 January 2018

Charles Stanley Group PLC

Trading update for the three months ended 31 December 2017

Charles Stanley Group PLC ("Charles Stanley" or "the Group") today issues a trading update for the third quarter ended 31 December 2017.

Total Funds under Management and Administration ("FuMA") at 31 December 2017 were GBP24.9 billion, representing an increase of 2.5% compared to GBP24.3 billion at 30 September 2017. This increase was largely driven by market growth, with the FTSE UK Private Investor Balanced Index increasing by 3.6% over the same period.

The growth in total FuMA was supplemented by encouraging inflows to the higher margin discretionary services, partly driven by clients upgrading from advisory services (GBP0.2 billion) and from new clients (GBP0.2 billion).

Execution-only funds increased by 3.6% (GBP0.3 billion) overall with Charles Stanley Direct continuing to outperform, up 6.8% to GBP2.7 billion during the quarter.

Total Group revenues on a year-to-date basis are up 7.4%, from GBP104.1 million to GBP111.8 million. Excluding EBS Management PLC, the pensions administration business which was sold by the Group on 31 May 2017, like-for-like revenues from continuing activities increased by 9.1%, from GBP102.0 million to GBP111.3 million.

Paul Abberley, Chief Executive Officer, commented:

"Trading conditions in Q3 were consistent with the performance seen in the first half of the financial year with a continued transition to higher margin fee-based revenues, favourable market conditions and stable cost control".

For further information, please contact:

 
 Charles Stanley    Canaccord Genuity   Peel Hunt      Redleaf Communications 
  Joanne Higginson   Andrew Buchanan     Guy Wiehahn    Charlie Geller 
  Public Relations   020 7523 4661       020 7418       020 7382 4730 
  Manager                                8893           CScapitalmarkets@redleafpr.com 
  Via Redleaf 
 

Notes to editors:

Charles Stanley traces its origins back directly to 1792 and is one of the oldest firms on the London Stock Exchange. Charles Stanley today provides holistic wealth management services to private clients, charities and smaller institutions. These are delivered by over 400 professionals located in 22 offices throughout the UK, both direct to clients and to intermediaries. Our services include investment portfolio management and financial planning, supported by in-house administration to enhance the quality of service provided. In addition, Charles Stanley Direct provides an award winning direct to customer execution-only dealing platform for equities and funds.

FUNDS UNDER MANAGEMENT AND ADMINISTRATION

 
 
                                            Dec 17   Sep 17          Mar 17 
                                             GBPbn    GBPbn           GBPbn 
 
 Discretionary funds                          12.6     12.1            11.4 
 Advisory managed funds                        2.1      2.2             2.4 
-----------------------------------------  -------  -------  -------------- 
 Total managed funds                          14.7     14.3            13.8 
-----------------------------------------  -------  -------  -------------- 
 Advisory dealing funds                        1.6      1.7             1.8 
 Execution only funds                          8.6      8.3             8.4 
-----------------------------------------  -------  -------  -------------- 
 Total administered funds                     10.2     10.0            10.2 
-----------------------------------------  -------  -------  -------------- 
 
 Total FuMA                                   24.9     24.3            24.0 
 
 
 FTSE UK Private Investor Balanced Index     4,268    4,119           4,122 
 
 
 

The change in managed funds since 30 September 2017 is explained in more detail in the table below:

 
                                                Discretionary managed       Advisory managed    Total 
                                                                GBPbn                  GBPbn    GBPbn 
 
 
 Funds at 1 October 2017                                         12.1                    2.2     14.3 
 
 
 New clients                                                      0.2                      -      0.2 
 Transfers between services                                       0.2                  (0.2)        - 
 Net outflow from existing clients                              (0.3)                      -    (0.3) 
 
 
 Net inflow/(outflow) of funds in the period                      0.1                  (0.2)    (0.1) 
 
 
 Market movement                                                  0.4                    0.1      0.5 
 
 
 Funds at 31 December 2017                                       12.6                    2.1     14.7 
 
 

REVENUE

The table below sets out the revenues of the Group for the quarter ended 31 December 2017 along with the prior year comparatives on a like-for-like basis.

 
 Quarter ended 31 December 2017 
                    Investment                                      Charles                       Held For 
                    Management          Asset      Financial        Stanley            Core        Sale(1) 
                      Services     Management       Planning         Direct        Business                    Total 
                          GBPm           GBPm           GBPm           GBPm            GBPm           GBPm      GBPm 
 
 Fee income               22.7            1.6            1.5            1.1            26.9              -      26.9 
 Commission                9.2            0.2              -            0.4             9.8              -       9.8 
 Interest 
  income                   0.5              -              -            0.1             0.6              -       0.6 
---------------  -------------  -------------  -------------  -------------  --------------  -------------  -------- 
 Total                    32.4            1.8            1.5            1.6            37.3              -      37.3 
---------------  -------------  -------------  -------------  -------------  --------------  -------------  -------- 
 
 
 Quarter ended 31 December 2016(2) 
                    Investment                                      Charles                       Held For 
                    Management          Asset      Financial        Stanley            Core        Sale(1) 
                      Services     Management       Planning         Direct        Business                    Total 
                          GBPm           GBPm           GBPm           GBPm            GBPm           GBPm      GBPm 
 
 Fee income               19.6            1.2            1.2            0.5            22.5            0.7      23.2 
 Commission               11.0            0.2              -            0.5            11.7              -      11.7 
 Interest 
  income                   0.3              -              -              -             0.3              -       0.3 
---------------  -------------  -------------  -------------  -------------  --------------  -------------  -------- 
 Total                    30.9            1.4            1.2            1.0            34.5            0.7      35.2 
---------------  -------------  -------------  -------------  -------------  --------------  -------------  -------- 
 
 
 (1) Held For Sale for both financial years represent revenues from EBS Management PLC, which 
  was sold by the Group on 31 May 2017 and was previously reported within the Financial Planning 
  division. 
 
  (2) Revenue figures for the quarter ended 31 December 2016 have been presented in line with 
  the classification of the Group's four operating divisions used for the quarter ended 31 December 
  2017 to ensure a like-for-like comparison. 
 
 
 
 
   YTD 31 December 2017 
                    Investment                                      Charles                       Held For 
                    Management          Asset      Financial        Stanley            Core        Sale(1) 
                      Services     Management       Planning         Direct        Business                    Total 
                          GBPm           GBPm           GBPm           GBPm            GBPm           GBPm      GBPm 
 
 Fee income               66.4            4.4            4.4            2.9            78.1            0.5      78.6 
 Commission               30.3            0.7              -            1.1            32.1              -      32.1 
 Interest 
  income                   0.9              -              -            0.2             1.1              -       1.1 
---------------  -------------  -------------  -------------  -------------  --------------  -------------  -------- 
 Total                    97.6            5.1            4.4            4.2           111.3            0.5     111.8 
---------------  -------------  -------------  -------------  -------------  --------------  -------------  -------- 
 
 
 YTD 31 December 2016(2) 
                    Investment                                      Charles                       Held For 
                    Management          Asset      Financial        Stanley            Core        Sale(1) 
                      Services     Management       Planning         Direct        Business                    Total 
                          GBPm           GBPm           GBPm           GBPm            GBPm           GBPm      GBPm 
 
 Fee income               56.6            3.5            3.6            2.0            65.7            2.1      67.8 
 Commission               33.2            0.5              -            0.9            34.6              -      34.6 
 Interest 
  income                   1.4              -              -            0.3             1.7              -       1.7 
---------------  -------------  -------------  -------------  -------------  --------------  -------------  -------- 
 Total                    91.2            4.0            3.6            3.2           102.0            2.1     104.1 
---------------  -------------  -------------  -------------  -------------  --------------  -------------  -------- 
 
 
 (1) Held For Sale for both financial years represent revenues from EBS Management PLC, which 
  was sold by the Group on 31 May 2017 and was previously reported within the Financial Planning 
  division. 
 
  (2) Revenue figures for the three quarters ended 31 December 2016 have been presented in line 
  with the classification of the Group's four operating divisions used for the three quarters 
  ended 31 December 2017 to ensure a like-for-like comparison. 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

January 23, 2018 02:00 ET (07:00 GMT)

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