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