Charles Stanley Group PLC
25 Luke Street London EC2A 4AR
T: 020 7739 8200 F: 020 7739 7798 DX: 123150 BROADGATE-1 INTERIM MANAGEMENT STATEMENT 25 January 2012 QUARTER ENDED 31 DECEMBER 2011
This statement is an Interim Management Statement ("IMS")
issued in accordance with the UK
Listing Authority's Disclosure and Transparency Rules. It
covers the period from 1 October 2011 to
25 January 2012, and includes trading results for the three
months ended 31 December 2011.
Charles Stanley Group PLC announces that its third quarter
revenues for the three months to 31
December 2011 were £27.3 million (2010/11: £32.3 million).
This is a continuation of the trend communicated in the half
year statement which set out the downward pressures on
revenues, although within this result total fees have
increased compared to the same period last year.
Total fees increased by 5.8% to £16.6 million (2010/11: £15.6
million) for the third quarter. Fee income has increased
despite the fall in market values since December 2010
reflecting the on- going success in increasing fee income as
a proportion of total revenue.
However commission income at £10.6 million (2010/11: £16.6
million) has decreased by £6.0 million compared to the same
period last year due to reduced bargain volumes caused by the
poor trading environment, Euro uncertainty and depressed UK
economy. A continuation of the difficult institutional
securities market is also reflected in this result.
Total client funds at £14.48 billion have demonstrated
underlying organic growth over the nine months of the
financial year to date despite difficult trading conditions,
and remain comparable to March 2011 levels (£14.50 billion).
Within this result managed funds have been the main driver of
organic growth delivering a net increase of 8.6% compared to
a market performance of -6.2% in the same period.
Funds under management and administration are analysed below:
Dec 11 Sep 11 £ billion £ billion Discretionary funds 4.70 4.42 Advisory managed funds 2.67 2.60 | Change since Sep 11 % 6.3% 2.7% | Mar 11 £ billion 4.61 2.59 | Change since Mar 11 % 2.0% 3.1% |
Total managed funds 7.37 7.02 | 5.0% | 7.20 | 2.4% |
Advisory dealing funds 2.87 2.79 Execution only funds 4.24 3.90 | 2.9% 8.7% | 3.03 4.27 | (5.3%) (0.1%) |
Total administered funds 7.11 6.69 | 6.3% | 7.30 | (2.6%) |
Total funds under management and administration 14.48 13.71 | 5.6% | 14.50 | - |
FTSE 100 index 5,572 5,128 | 8.6% | 5,908 | (5.7%) |
FTSE all share index 2,858 2,654 | 7.7% | 3,067 | (6.8%) |
APCIMS benchmark 2,894 2,735 | 5.8% | 2,984 | (3.0%) |
Total managed funds increased by 5.0% during the quarter and by 2.4% since the beginning of the financial period. The change since March 2011 is explained in more detail in the table below:
Discretionary Advisory managed managed £ bn £ bn Managed funds at 1 April 2011 4.61 2.59 | Total £bn 7.20 | Change % |
Inflows New clients of existing investment managers 0.28 0.08 Clients of new investment managers 0.01 0.25 New funds from existing clients 0.43 0.20 | 0.36 0.26 0.63 | |
Total inflows 0.72 0.53 | 1.25 | 17.4% |
Outflows Lost clients (0.17) (0.20) Withdrawals by existing clients (0.17) (0.09) | ||
Outflows Lost clients (0.17) (0.20) Withdrawals by existing clients (0.17) (0.09) | (0.37) (0.26) | |
Total outflows (0.34) (0.29) | (0.63) | (8.8%) |
Net inflow of funds 0.38 0.24 Market movement (0.29) (0.16) | 0.62 (0.45) | 8.6% (6.2%) |
Managed funds at 31 December 2011 4.70 2.67 | 7.37 | |
% increase in period 2.0% 3.1% | 2.4% |
REVENUE
Quarter ended 31 December 2011Private
Clients
£'000
Financial
Services
£'000
Charles Stanley Securities
£'000
Other
£'000
Total
£'000
Commission 9,808 80 808 - 10,696
Fees
Investment Management 7,399 107 - - 7,506
Administration 5,933 2,438 77 - 8,448
Corporate Finance - - 612 - 612
Other - - - 5 5
Total fees 13,332 2,545 689 5 16,571
Private
Clients
£'000
Financial
Services
£'000
Charles Stanley Securities
£'000
Other
£'000
Total
£'000
Commission 14,332 52 2,274 - 16,658
Fees
Investment Management 7,386 117 - - 7,503
Administration 5,608 1,759 - - 7,367
Corporate Finance - - 782 - 782
Other - - - 5 5
Total fees 12,994 1,876 782 5 15,657
Private
Clients
£'000
Financial
Services
£'000
Charles Stanley Securities
£'000
Other
£'000
Total
£'000
Commission 34,412 247 3,181 - 37,840
Fees
Investment Management 22,047 367 - - 22,414
Administration 17,391 7,808 205 - 25,404
Corporate Finance - - 1,813 - 1,813
Other - - - 71 71
Total fees 39,438 8,175 2,018 71 49,702
Private
Clients
£'000
Financial
Services
£'000
Charles Stanley Securities
£'000
Other
£'000
Total
£'000
Commission 40,412 176 5,637 - 46,225
Fees
Investment Management 20,332 331 - - 20,663
Administration 16,512 5,932 - - 22,444
Corporate Finance - - 2,720 - 2,720
Other - - - 54 54
Total fees 36,844 6,263 2,720 54 45,881
For further information please contact:
Charles Stanley Group PLC Canaccord Genuity
James Rawlingson, Director Simon Bridges/Martin Green
Michael Lilwall, Director Phone: 020 7050 6500
Magnus Wheatley, Head of Press & Public Relations
Phone: 020 7149 6273
Email: magnus.wheatley@charles-stanley.co.uk
Charles Stanley Group PLC has five trading companies, Charles
Stanley & Co. Limited, EBS Management PLC, CS Financial
Solutions Limited, Garrison Investment Analysis Limited and
Jobson James Financial Services Limited
Charles Stanley & Co. Limited provides full-service
stockbroking, financial planning and benefit consultancy and
small and mid cap advisory and institutional broking.
EBS Management PLC provides specialist pensions
administration services. CS Financial Solutions Limited is a
specialist provider of corporate employee benefits services.
Garrison Investment Analysis Limited markets unit trusts,
open-ended investment company units and packaged financial
products to private clients, both directly and in wrappers
such as ISAs and pensions. Jobson James Financial Services
Limited provides wealth management advice and services for
both private and corporate clients including pensions and
retirement planning.
All five trading companies are regulated by the Financial
Services Authority. The Group has 33 offices around the
United Kingdom.
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Documents associés | |
Interim Management Statement |