Business
Full Year Results
Full Year Results.
About this update from Brooks Macdonald Group Plc
[{"type":"text","content":"\n \n \n \n 15 September 2022\n \n \n \n \n \n \n \n \n \n BROOKS MACDONALD GROUP PLC\n \n \n \n \n \n \n \n \n \n Final results for the year ended 30 June 2022\n \n \n \n \n \n \n \n \n \n Strong net flows, record underlying profit margin, and continued strategic delivery.\n \n \n \n \n \n \n \n \n Brooks Macdonald Group plc (\"Brooks Macdonald\" or \"the Group\") today announces its audited results for the year ended 30 June 2022.\n \n \n \n \n \n \n \n \n Financial highlights\n \n \n \n ·\n Group Funds Under Management (\"FUM\") closing at £15.7 billion (down 4.8% on FY21) as positive net flows were offset by the impact of declining markets on asset values\n \n \n \n \n \n ·\n Positive net flows throughout the year, now five successive quarters, with net flows for the full year of 4.8%, representing a £1.1 billion improvement on prior year\n \n \n \n \n \n ·\n Flows particularly strong in the fourth quarter (three months to 30 June 2022) with the annualised rate reaching 6.7% and 8.6% for Group and UK Investment Management respectively\n \n \n \n \n \n ·\n Group revenue of £122.2 million, up 3.4% on FY21, driven by higher average FUM and the full year impact of the Group's acquisition of the Lloyds Channel Islands business\n \n \n \n \n \n ·\n Underlying profit margin up by 2.3 points to 28.2%, in line with the Group's commitment to deliver top quartile margin over the medium term\n \n \n \n \n \n ·\n Investment performance across the range of services of (9.6)% for the year, driven by declining and volatile markets\n \n \n \n \n \n ·\n Total dividend increased by 12.7% to 71.0p (FY21: 63.0p), in line with the increase in underlying profit before tax, reflecting the Board's confidence in the Group's prospects.\n \n \n \n \n \n \n \n \n Strategic progress\n \n \n \n ·\n Remaining client- and adviser-facing processes now live on the SS&C platform, shortly after year end, a major milestone in the Group's digital transformation which will make Brooks Macdonald increasingly easy to do business with. Work now continuing to embed and refine the systems and processes\n \n \n ·\n Investing for growth, with repositioning of the Group's Funds business under way through material repricing of the Cornelian Risk Managed Fund range to drive medium-term growth\n \n \...