Brooks Macdonald Group plc: Report for the year ended 30 June 2012

Brooks Macdonald Group plc, the AIM listed integrated wealth management group, today announces its results for the year ended 30 June 2012.

Financial Highlights

 

Year Ended
30.06.12

Year Ended
30.06.11

Change

Pre-tax profit

£8.5m

£7.3m

17%

Revenue

£53.3m

£52.2m

2%

Basic earnings per share

57.94p

51.92p

12%

Total funds under management ("FUM")

£3.52bn

£2.97bn

19%

  Final proposed dividend

12.5p

10p

25%

Total dividends

18.5p

15p

23%

Business Highlights:

  • Year on year increase of 19% in discretionary FUM to £3.52bn driven by acquisitions, performance and organic growth in distribution, capacity, strategic alliances and investment capability
  • Brooks Macdonald Funds grew funds under management to £148m (2011: £101m 2011) an increase of 47% 
  • Property assets under administration, managed by Braemar Estates, grew to £865m (2011: £750m) a growth of 15%
  • Third party assets under administration, a new revenue stream, are now in excess of £50m (2011: nil)
  • 23% increase in proposed dividends for the year of 18.5p (2011:15p)
  • Acquisitions during the year of Clarke Willmott’s Investment management team and since the year end of Park Street London Limited introducer business, both funded out of the Group’s own cash resources  
  • Braemar Estates appointed property manager of £50m Ground Rents Income Fund plc since the year end

Commenting on the results and outlook, Chris Macdonald, CEO, said:

"Last year was tough but successful.  We believe that market conditions will remain volatile and, given the onset of RDR, that we are entering a period of significant change in the distribution landscape for financial services. We are fortunate that the Group is well positioned, financially stable and with a large number of exciting opportunities.

We have had an encouraging start to the new financial year with funds under management continuing to grow, enhanced by Braemar's appointment as property manager of the Ground Rents Income Fund plc and we look forward with confidence.”