Charles Stanley raises dividend after profit rise

STOCKBROKER Charles Stanley has posted a ten per cent rise in full-year adjusted pre-tax profit – helped by higher revenue from private clients, and raised its total dividend for the year by eight per cent.

The company said it was too early to predict a sustained recovery, but added it was more confident about its medium-term outlook than in the past couple of years.

For the year ended 31 March Charles Stanley posted an adjusted pre-tax profit of £13m compared with £12.5m the year before.

Revenue climbed 13 per cent to £115m.

That included a 13.7 per cent rise in money managed for private clients to £96.1m

Funds under management and administration was £12.8bn, compared with £9bn last year.

The company raised its full-year dividend to 9.45 pence from 8.75 pence.