Brewin Dolphin’s interim management report

by | May 16, 2018

Share this article

Brewin Dolphin has announced its Interim Management Report for the half year ended 31 March 2018.

The firm said it had another strong period of organic fund inflows and had made further progress towards achieving its strategic plan.



·         Total funds stood at £39.7bn at 31 March 2018 (H1 2017: £37.8bn, FY 2017: £40.1bn); with net funds flows of £0.9bn offset by lower investment returns; since then total funds have increased and as at 30 April 2018 were c.£41bn:

o   Discretionary funds of £34.3bn, increased by 1.5% (FY 2017: £33.8bn);

o   Net discretionary funds inflows, including transfers, of £1.3bn (H1 2017: £1.1bn) representing an annualised growth rate of 7.7% (H1 2017: 7.6%).


·         Total income for the period of £161.8m (H1 2017: £147.4m):

o   Core income of £156.3m increased by 11.4% (H1 2017: £140.3m);

o   Total fee income of £115.6m (H1 2017: £104.7m), increased by 10.4% representing 71.4% of total income (H1 2017: 71.0%); commission income was £32.9m (H1 2017: £33.0m).


·         Adjusted profit before tax of £38.8m increased by 19.8% (H1 2017: £32.4m):

o   Adjusted profit before tax margin 24.0% (H1 2017: 22.0%).

·         Statutory profit before tax of £34.1m, 20.1% higher than H1 2017 (£28.4m).


·         Adjusted earnings per share:

o   Basic earnings per share increased by 18.9% to 11.3p (H1 2017: 9.5p);

o   Diluted earnings per share3 increased by 18.7% to 10.8p (H1 2017: 9.1p).


·         Statutory earnings per share:

o   Basic earnings per share of 9.7p (H1 2017: 8.2p);

o   Diluted earnings per share of 9.4p (H1 2017: 7.9p).


·         Interim dividend of 4.4p per share announced, an increase of 3.5% (2017 interim: 4.25p per share). 

Chief Executive David Nicol said: “I am pleased to report a robust first half of our financial year with strong net discretionary inflows, despite challenges in the wider market. We continue to deliver against our strategy and build on the positive momentum across the business. We remain positive in our outlook and confident in the strength and increasing relevance of our advice-led service.”

Share this article

Related articles

Fit for the future

Fit for the future

Jeffrey Faustin, Chief Investment Officer at Jenson Funding Partners, discussed with GBI Magazine how his team are utilising various methods of diversification to ensure their EIS and SEIS portfolios are as robust as possible to meet investors’ needs. Jenson Funding...

Fulfilling your business goals in 2023

Fulfilling your business goals in 2023

Many advisers will be thinking that 2023 is the time for them to consider exit strategies. But what might doing that actually involve? How could you get started? Wealth Holdings’ CEO, Keith Brown, has some practical suggestions for you to consider to ensure that your...

Choppy waters: overcoming investor anxiety

Choppy waters: overcoming investor anxiety

As 2023 gets underway and we look to the future, these are nervous times for many advisers’ clients. With little relief from the news that seems to dominate the economic outlook, some clients will seek to escape the turbulence by selling their investments. But there...

Trending articles

IFA Talk logo

IFA Talk is our flagship podcast, designed to fit perfectly into your busy life, bringing the latest insight, analysis, news and interviews to you, wherever you are.

IFA Talk Podcast - listen to the latest episode