StockMarketWire.com - Wealth manager Brewin Dolphin reported a fall in profit, pinning on investments to ramp up growth and infrastructure initiatives.

For the year ended 30 September, pre-tax profit fell 8.6% to £62.6m on-year and total funds by 5.1% to £45bn.

Total operating costs were 5.3% higher at £265.7m driven by investment spending.

Discretionary net funds inflows fell to £1.4bn from £2.3bn, and discretionary net flows, including acquired funds, were £40.1bn, up from £37.6bn Brewin Dolphin left its final and full-year per-share dividends unchanged at 12.0p and 16.4p, respectively.

Story provided by StockMarketWire.com