StockMarketWire.com - Brooks Macdonald Group's total discretionary funds under management rose to GBP7.82bn in the six months to the end of December - 12% up on a year ago.

Revenues were 3% higher at GBP38.70m and underlying pre-tax profits were up 6% at GBP7.13m.

Pre-tax profits were 22% up at GBP5.48m and the interim dividend of 12p per share is 20% up on last time.

Chief executive Chris Macdonald said: "Brooks Macdonald has continued to make good progress, with double digit growth in discretionary funds under management during the first half driving increases in profit and earnings per share. In uncertain markets, we have achieved strong risk adjusted returns for our clients and have progressed a number of significant projects across the Group which will help drive future growth." "We have continued to see strong organic growth in the early weeks of the second half, albeit the volatility in markets since the New Year is likely to have impacted the Group's funds under management." "Our second half will benefit from the year on year growth of funds under management, but will be impacted by the continuing planned conversion of advisory to discretionary assets by Brooks Macdonald International. Overall subject to the level of the market, we expect to make further progress for the year as a whole."






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