Highlights:
Strong performance in EEV & IFRS profit
Third successive year of 33% dividend growth
Similar significant increase in dividend expected in 2013
Record total single investments of £5.88 billion (2011: £5.2 billion) up 13%
Net inflows of £3.35 billion (2011: £3.21 billion) supported by our 95% retention rate
Total funds under management up 22% to £34.8 billion
Partnership numbers at 1,788, up 8% (2011: 1,649)
The Academy continues to attract new talent with 54 'apprentices' currently in the programme.
David Bellamy, Chief Executive, commented:
"I am very pleased to report another strong performance from St. James's Place in new business, profits and funds under management. The continuing growth and maturity in funds under management has, as expected, translated into strong growth in the cash result. Consequently we have been able to grow dividends by 33% in each of the last three years and have the confidence today to signal a similar significant increase for 2013.
Whilst we recognise that there is still economic uncertainty, everything we understand about our marketplace tells us that there has never been a greater need for high quality advice delivered by a trusted adviser, backed by a well respected company. The scale and strength of the company's adviser led approach to wealth management, twinned with a proven investment proposition, leaves St. James's Place both uniquely and well positioned to benefit from the long term demographic and market opportunities in wealth management.
We have good momentum across all aspects of the business and are therefore confident in our ability to continue our growth in line with our medium term objectives in 2013 and beyond."
