New Business
Total new business, on an APE basis, of £426.5 million (2012: £353.9 million) up 21%
Total single investments of £3.53 billion (2012: £2.76 billion) up 28%
Funds Under Management
Net inflow of funds under management of £1.99 billion (2012: £1.51 billion) up 32%
Funds under management of £39.9 billion (2012: £30.9 billion) up 29%
St. James's Place Partnership
Partnership numbers at 1,905 up 6.5%
Profit
EEV basis:
New business profits of £152.4 million (2012: £120.6 million) up 26%
Operating profit at £233.6 million (2012: £167.8 million) up 39%
Net asset value per share 524.1 pence (2012: 414.6 pence) up 26%
IFRS basis:
Profit before shareholder tax of £90.1 million (2012: £58.9 million) up 53%
Net asset value per share 165.8 pence (2012: 141.7 pence) up 17%
Cash result:
Underlying post tax cash result of £66.9 million (2012: £41.9 million) up 60%
Total cash result of £82.6 million (2012: £44.9 million) up 84%
Interim Dividend
Interim dividend 6.38 pence per share up 50%
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David Bellamy, Chief Executive Officer, commented:
"I am very pleased to be able to report another strong performance from St. James's Place.
We have delivered another good set of new business numbers influenced by the addition of good quality advisers to the Partnership in recent years and the continued growth from existing Partners.
Alongside these new business numbers, through a combination of the positive performance of our client's investment funds, supported by more stable market conditions, and the continued retention of existing funds under management, we continue to experience substantial growth in the cash returns from those longer term funds. Consequently the Board has increased the interim dividend by 50%.
At the heart of our business are the long term relationships that our Partners build with clients, working with them over time to understand their financial needs and goals and helping them to achieve them. These results demonstrate that the focus we place on those long term relationships with both our Partners and clients over time, delivers extremely good value to all our stakeholders.
Looking forward, everything we understand about our marketplace tells us that there has never been a greater need for reliable advice delivered by a trusted adviser and backed by a reputable company.
Against this backdrop, the scale and strength of the company's advice led approach to wealth management, twinned with a proven investment management proposition, positions St. James's Place uniquely to benefit from the long term demographic and market opportunities in wealth management and reinforces our confidence in our ability to continue our growth in line with our medium term objectives."
