StockMarketWire.com - Brooks Macdonald Group posts underlying pre-tax profits of £15.1m for the year to the end of June - 13% up on last time.

Total funds under management rose by 13% to £7.41bn and revenues increased by 12% to £77.7m. Underlying earnings per share rose by 5% to 91.33p and the proposed final dividend of 20.5p per share is up 8%. Ttotal dividends of 30.5p are up 17% on a year ago.

Chief executive Chris Macdonald said: "This has been a year of substantive progress for the Group. We have continued to grow funds under management and increase profits whilst making considerable progress on our IT development, our distribution, improving our governance, completing two strategic alliances, broadening the senior management team and moving our head office.

"Over the coming year we will look to continue with the progress made and look to drive performance, service and new business. Investment markets remain volatile and this is clearly a headwind for the industry as a whole, but encouragingly our new business has been strong for the first quarter of the new financial year."

Separately, the company announced that its subsidiary, Brooks Macdonald International, has won a mandate to manage half of all South African based Personal Trust International's existing offshore portfolios, which are registered under PTI Guernsey Limited.

The mandate, totalling $40 million, will be split across Personal Trust International's two offshore registered funds. BMI will be responsible for managing half of the circa $80 million assets of each of the US dollar-denominated funds.

The fFunds will invest in a diversified range of asset classes. BMI will use a range of both active and passive investments to achieve the funds' objectives.




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