Year of growth at financial services firm Smith & Williamson

Joseph Millis
Financial services firm Smith & Williamson yesterday reported robust results for the year ending 30 April.

It said that it had seen an eight per cent rise in group operating income to £215.1m, from £ 199.1m in 2014. There had also been a 14.2 per cent rise in adjusted operating profit, to £41.1m from £36m a year earlier.

Funds under management and advice jumped 8.7 per cent to £16.3bn from £15.0bn in 2014.

Kevin Stopps, co-chief executive and managing partner of tax and business services, commented: “We are delighted to report another solid year of growth at Smith & Williamson as the unique combination of investment management, tax and accounting services that we offer our clients help us to deliver progressively stronger performance across the business. Against the backdrop of an improving UK economy, we have continued to evolve our offering to meet the changing needs of our clients, while also maintaining careful control of costs and we look to the future with confidence.”

David Cobb, co-chief executive and head of investment management and banking said: “Notwithstanding volatile market conditions, the hard work and focus shown by colleagues over the past few years has built strong momentum in the business that is reflected in the current year’s results.

As a result, we are well placed to take full advantage of future opportunities and are committed to continue investing in our people, infrastructure and business development to ensure we capitalise on our current favourable position. We recognise that this investment is likely to have an impact on profits in the current year.”