Wednesday 28 November 2018 8:29 am

Inflows give profit boost to Brewin Dolphin

Asset manager Brewin Dolphin today reported a profit jump as it was boosted by strong inflows.

The company said adjusted profit before tax for the year to 30 September was £77.5m, a 10.7 per cent increase on the previous year.

Its total funds stood at £42.8bn, an increase of 6.7 per cent.

Brewin Dolphin increased its full year dividend 9.3 per cent to 16.4p with its final dividend increasing 11.6 per cent to 12p per share.

Chief executive David Nicol said: "2018 was another successful year for the group, proving the continued value of our personalised advice-led model. Above target organic fund inflows have led to strong earnings and dividend growth.

“The investment in our services, people and technology are delivering results and we have broadened our range of services so we can capture future growth opportunities. At a time of uncertainty we remain confident in our growth prospects."

Nicol said the company was “prepared to take all necessary and appropriate measures to address any eventualities that emerge” with respect to Brexit.

“We are well positioned to withstand market-wide stresses triggered by Brexit,” he said.