Rathbones Group announce an interim dividend of 32.0p per share is payable on 30 September 2026 to shareholders on the register at the close of business on 4 September 2026. The interim dividend has not been included as a liability in this interim statement. A final dividend for 2025 of 68.0p per share was paid on 13 May 2026.
Other financial highlights include:
- Funds under management and administration (FUMA) increased by 10.7% year on year to £120.7 billion as at 30 June 2026 (30 June 2025: £109.0 billion).
- Wealth Management recorded net inflows of £0.4 billion in Q2, with Discretionary & Managed net inflows of £0.5 billion, demonstrating stronger client asset retention and momentum in new business activity. This offset net outflows of £0.4 billion in Q1, resulting in broadly neutral net flows in Wealth for the first half overall.
- Asset Management net outflows of £0.4 billion in Q2 were similar to the first quarter, reflecting continuing industry-wide pressure on active equity strategies.
- Accordingly, Group net flows for Q2 were flat overall, whilst net outflows for H1 were £0.9 billion.
- Operating income increased 8.6% to £487.5 million (HY 2025: £449.1 million), driven by higher investment management fees, increased commission income and growth in financial planning advice revenues.
- Underlying profit before tax increased by 14.4% to £123.2 million (HY 2025: £107.7 million), resulting in the underlying operating margin improving to 25.3% (HY 2025: 24.0%).
- Profit before tax for the first half was £72.1 million, an increase of 15.7% on the prior period.
- Acquisition and integration costs continued to decline as anticipated, falling to £9.5 million (HY 2025: £23.2 million), reflecting our progression beyond the integration phase of Investec Wealth & Investment, and supporting our expectation that integration costs will cease during 2027.
- Costs of £19.0 million (HY 2025: £nil) were recognised in relation to the FCA Skilled Person Review.
