Financial highlights:
· EEV new business profit £440.7 million (2014: £373.1 million)
· EEV operating profit £660.2 million (2014: £596.4 million)
· EEV net asset value per share 737.3 pence (2014: 657.9 pence)
· IFRS profit before shareholder tax £151.3 million (2014: £182.9 million)
· Underlying post tax cash result £182.1 million (2014: £173.8 million)
· Final dividend of 17.24 pence per share (2014: 14.37 pence per share) giving a full year dividend of 27.96 pence per share - up 20%
· Group Solvency II free assets of £809.2 million compared with £440.2 million on Solvency I basis, giving Solvency ratio of 151% (156% before the final proposed dividend)
Strategic initiatives:
· Rowan Dartington acquisition now completed
· New office opening in Canary Wharf in May
· Academy concept extended to include training specialist staff and Regional Academy in Scotland
New business highlights:
· Record gross inflows of £9.24 billion (2014: £7.88 billion)
· Net inflow of funds under management of £5.78 billion (2014: £5.09 billion)
· Funds under management of £58.6 billion (2014: £52.0 billion)
David Bellamy, Chief Executive Officer, commented:
"Despite the continued uncertainty in world stock markets, the strong growth across all key areas once again demonstrates the resilience of the business and delivered another record year of new investments, funds under management and operating performance.
The continuing growth and maturity in funds under management has, as expected, translated into continued growth in the underlying cash result. I am therefore pleased to confirm the final dividend of 17.24 pence per share, taking the total dividend for the year to 27.96 pence per share, up 20% on 2014.
Our success has been, and continues to be, built on our fundamental belief that for most people their finances and wealth are personal and they want to be treated in a highly personalised way and by someone they trust. We see a growing demand for sound, personal, financial planning advice as individuals recognise the financial implications of increased life expectancy, whilst being faced with increasingly complex options in respect of their investments.
That increasing demand, coupled with the ongoing growth in the size of the Partnership, means that we remain well placed to continue our growth in 2016 and beyond, in line with our medium term objectives."
