Redmayne Bentley has reported robust financial results for the 12 months ended 31st March 2023, with profits remaining resilient amid market volatility and inflationary cost pressures.
The hundred-and-forty-eight-year-old UK investment management and stockbroking firm confirmed a profit of £4.4m, with year-on-year revenue up +8.5% from the previous year. Assets under Investment Management fell slightly to £2.5 billion having been impacted by the macro-economic environment and market volatility. Cash levels continue to remain strong.
Stuart Davis, Chief Executive said: “I’m pleased to report solid results for the year ending March 2023. In a period of market volatility and inflationary cost pressures, the firm’s profits have remained resilient and broadly in line with the previous year. In addition, we have delivered revenue growth of 8.5%.
“As we expected costs were higher in the period: we increased salaries and made a one-off payment to support our employees with the cost of living, furthermore we continue to make investments in our systems and develop our service propositions.
“We remain resolutely focused on our long-term purpose to provide excellent personal investment services that enhance clients’ wealth.”
