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Charles Stanley Group PLC - Results for the full-year ended 31st March 2018

Charles Stanley Group PLC today announces its results for the full-year ended 31st March 2018. Read the full statement here.

by
Charles Stanley

13.06.2018

Charles Stanley Group PLC (‘the Group’) or (‘Charles Stanley’) today announces its preliminary results for the year ended 31 March 2018:
 

Financial highlights:

  • Discretionary funds up by 7.9% to £12.3 billion (2017: £11.4 billion)
  • Reported revenue of £150.9 million (2017: £141.6 million), with growth in all divisions
  • Reported profit before tax of £11.4 million (2017: £8.8 million)
  • Core Business1 profit before tax of £10.9 million (£2017: £9.8 million)
  • Core Business operating margin improved to 8.8%2 (2017: 7.1%)
  • Reported basic earnings per share up 40% to 17.23 pence (2017: 12.35 pence)
  • Total 2018 dividend increased 33.3% to 8.0 pence per share (2017: 6.0 pence per share)
  • Balance sheet strengthened - Group cash balance increased 12.3% to £65.6 million (2017: £58.4 million) and regulatory capital resources up 21% to £74.0 million (2017: £61.4 million)

Operational highlights:

  • Maintained upper quartile client satisfaction and staff engagement scores
  • Delivered a series of initiatives enhancing client service and improving capacity
  • New governance framework fully implemented and enterprise risk framework refreshed
  • Disposal of non-core activities completed

Paul Abberley, Chief Executive Officer, commented:

“2018 has been another year of progress for Charles Stanley. We completed the disposal of non-core activities, further built profitability and began to scale the business. The Group’s transformation continues apace as we implement our strategy and deliver progress in the underlying key metrics. That said, we recognise the need to accelerate the improvement in our financial metrics to match what is being delivered qualitatively across the business.
The focus for the 2019 financial year will be on driving top line revenue growth whilst improving operational efficiency and in turn harnessing operational gearing. I am confident that we will continue to make meaningful progress toward attaining our target 15% operating margin. The speed with which we attain it will in part be dependent upon the pace of investment to develop sales channels and standardise processes, and in part on how quickly the Group assimilates change."

Read the RNS announcement here.

See the video here.

 

1The Core Business figures represent the results of the Group’s four main operating divisions, excluding held for sale activities and adjusted for one-off items.
2The Core Business operating margin, excluding the charge in respect of share options awarded to certain investment management teams under the revised remuneration arrangements settled last year.

The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014
Charles Stanley Group PLC LEI: 213800LBSEGKE5MCYC90

 

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