Business
Interim Statement for the 6 Months to 30 June 2019
Interim Statement for the 6 Months to 30 June 2019.
About this update from St. James's Place Plc
[{"type":"text","content":"\n \nRNS Number : 2664H St. James's Place PLC 31 July 2019 \n\n \n-1-\n \nST. JAMES'S PLACE PLC\n27 St. James's Place, London SW1A 1NR\nTelephone 020 7493 8111 Facsimile 020 7493 2382\n \n31 July 2019\n \n INTERIM STATEMENT\nFOR THE SIX MONTHS TO 30 JUNE 2019\n \nNET INFLOWS AND STRONG MARKET RETURNS INCREASE \nFUNDS UNDER MANAGEMENT TO A RECORD £109.3 BILLION\n \nSt. James's Place plc (SJP), the wealth management group, today issues its new business and financial results for the six months ended 30 June 2019.\n \nNew Investment and Funds under Management \n \n· Gross inflow of funds of £7.4 billion (2018: £7.9 billion) \n· Continued strong retention of client funds - 96%\n· Net inflow of funds of £4.4 billion (2018: £5.2 billion)\n· Record Group funds under management of £109.3 billion (2018: £96.6 billion)\n \nFinancial Highlights\n \n· EEV new business profit £386.3 million (2018: £437.0 million)\n· EEV operating profit £465.7 million (2018: £489.6 million)\n· IFRS profit before shareholder tax £57.3 million (2018: £82.5 million)\n· Underlying IFRS profit before shareholder tax £81.5 million (2018: £115.4 million)\n· Underlying cash result (post-tax) £125.1 million (2018: £147.1 million)\n· Underlying cash earnings per share of 23.7 pence (2018: 28.0 pence per share)\n \nInterim Dividend\n \n· Interim dividend of 18.49 pence per share (2018: 18.49 pence per share) \n \nOther Highlights\n \n· We are now represented by 4,096 qualified advisers across the Partnership, with a further 446 individuals in training across the Academy programme \n· The successful migration of all UK business onto Bluedoor has been completed\n \n-2-\n \nAndrew Croft, Chief Executive, commented:\n \nGiven the uncertain macro-economic and political environment that continues to prevail in the UK, I am pleased to report a solid set of results for the first six months of 2019, once again demonstrating the resilience of the St. James's Place business.\n \nWhilst our new business continues to perform well compared to others in the wealth management sector, we are not immune to the challenging external factors that prevailed during the first half of the ye...