StockMarketWire.com - Wealth management services provider Rathbone Brothers booked a 79% rise in first-half profit after it boosted fee income amid a recovery in investment markets.

Pre-tax profit for the six months through June increased to £48.8 million, up from £27.3 million year-on-year.

Operating income rose 19% to £213.5 million amid an 8.2% rise in assets under management and administration to £59.2 billion. Net inflows amounted to £0.5 billion.

Rathbone declared an interim dividend of 27p per share, up 8% year-on-year.

'Investment markets improved in the first half of 2021 as sentiment began to look beyond the pandemic,' chief executive Paul Stockton said.

"Continued organic growth also helped increase our funds under management and administration.'

'Following a strong set of year to date financial results we enter the second half of 2021 in a robust position.'


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