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Brooks Macdonald Group revenue up 49 per cent

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AIM-listed wealth management firm Brooks Macdonald Group has reported an increase in revenue of 49 per cent for the year ended 30 June 2011 compared with the previous 12 month period.

 

Revenue totalled GBP52.2m to June 2011 up from GBP35.1m in 2011, while underlying pre-tax profits rose 28 per cent for the period up from GBP5.7m in 2010 to GBP7.3m in 2011.

The firm has seen a 36% growth in discretionary FUM driven by growth in distribution, capacity, strategic alliances and investment capability, and a 67% increase in dividend reflecting the Group’s strong dividend cover.

Chris Macdonald, CEO, says: "This has been another year of significant growth for the Group. We remain well-positioned to take advantage of industry change, notably the implementation of the Retail Distribution Review (‘RDR’), and continue to see a number of opportunities to increase our presence in the marketplace.
 
"Our aim is to continue to grow our discretionary funds under management, through organic investment, acquiring investment management teams, expanding our regional presence, and developing our product and service offering.”  

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