Business
Interim Results
Interim Results.
About this update from St. James's Place Plc
[{"type":"text","content":"\n RNS Number : 0390A St. James's Place PLC 29 July 2008 \n \n\nST. JAMES'S PLACE PLC\n\nPRESS RELEASE\n29 July 2008\nHALF YEARLY RESULTS\nFOR THE SIX MONTHS\nTO 30 JUNE 2008\n\nSt. James's Place plc ('SJP'), the wealth management group, today announces its new business and financial results for the half year ended 30 June 2008.\n\nThe text of the announcement is attached:\n\nEnquiries:\n\n\n\n\n\nMike Wilson, Chairman\n\n\nTel: 020 7514 1985\n\n\n\n\nAndrew Croft, Group Finance Director\n\n\nTel: 020 7514 1985\n\n\n\n\n\n\n\n\n\n\n\n\nBrunswick\n\n\nTel: 020 7404 5959\n\n\n\n\n\n\n\nAnita Scott\n\n\n\n\n\n\n\n\n\n\nAnna Jones\n\n\n\n\n\n\n\n\n\n-1-\nST. JAMES'S PLACE WEALTH MANAGEMENT\n\nANNOUNCES 2008 HALF YEARLY RESULTS\n\nRESILIENT RESULTS WITH RECORD\nSECOND QUARTER NEW BUSINESS\n\nHighlights of the half yearly results to 30 June 2008:\n\nNew business (on an APE basis):\n\n\n\nTotal new business of £220.7 million up 3%\n\n\nRecord second quarter new business at £122.0 million up 5% and our highest ever quarter\n\n\nPension business of £97.3 million up 15%\n\n\n\nProfit - EEV basis:\n\n\n\nGroup operating profit at £114.2 million (2007: £120.7 million)\n\n\nNew business profits of £65.3 million (2007: £71.5 million)\n\n\nNet asset value per share 241.1 pence (2007: 239.6 pence)\n\n\n\n- IFRS basis:\n\n\n\nProfit before shareholder tax of £32.8 million (2007: £19.9 million)\n\n\nNet asset value per share 97.1 pence (2007: 83.0 pence)\n\n\n\nInterim Dividend:\n\n\n\nInterim dividend increased to 1.84 pence per share up 5%\n\n\n\nFunds Under Management:\n\n\n\nTotal single investments of £1.7 billion (2007: £1.7 billion)\n\n\nRetention of funds under management remains strong\n\n\nFunds under management of £17.2 billion (2007: £17.3 billion)\n\n\n\nSt. James's Place Partnership at 1,291 up 3% since the start of the year\n\n\nMike Wilson, Chairman, commented:\n\n'Despite the challenging market conditions we have shown our resilience with continued growth in new business, strong retention of funds under management and an increase in the size of the Partnership.\n\n'We continue to be convinced of our adviser-based approach to wealth management. There is a growing demand for advice and we continue to believe that the strength, quality and growth of our own dedicated team of advisors give us a major competitive advan...