- Brooks Macdonald's total discretionary funds under management rose by 19% to £9.33bn in the six months to the end of December.

Revenues were up 17% at £45.34m and underlying pre-tax profits rose by 24% to £8.87m.

Pre-tax profits were up 49% at £8.16m and the group declared an interim dividend of 15p per share - up 25%.

Chairman Chris Knight said: "It's been another strong six months for the Group. Growth in discretionary funds under management drove increases in in profit and earnings per share.

"Chris Macdonald will retire as chief executive on 10th April.

"The principal architect of the group's success, he has led the business with vigour, with determination and with vision for twenty-five years and all our stakeholders have reason to thank him.

"Although he will no longer be an executive director he will remain on the board as deputy chairman, in which role I know that he will continue to provide help and encouragement to the business.

"As previously announced, Caroline Connellan will join the business in April and succeed Chris Macdonald as chief executive.

"Caroline brings considerable experience to the business and we are confident that under her leadership the Group will continue to grow and prosper."

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