Business
Interim Statement for the 6 Months to 30 June 2020
Interim Statement for the 6 Months to 30 June 2020.
About this update from St. James's Place Plc
[{"type":"text","content":"\n \n \n RNS Number : 2235U\n St. James's Place PLC\n 28 July 2020\n \n \n \n \n -1-\n \n \n ST. JAMES'S PLACE plc\n \n \n 27 St. James's Place, London SW1A 1NR\n \n \n Telephone 020 7493 8111 Facsimile 020 7493 2382\n \n \n \n \n \n 28 July 2020\n \n \n \n \n \n INTERIM STATEMENT \n \n \n FOR THE SIX MONTHS TO 30 JUNE 2020\n \n \n \n \n \n RESILIENT NEW BUSINESS AND FINANCIAL PERFORMANCE\n \n \n \n \n \n St. James's Place plc (\"SJP\"), the wealth management group, today issues its new business and financial results for the six months ended 30 June 2020.\n \n \n \n \n \n New investment and funds under management \n \n \n \n \n \n · \n Gross inflow of funds o\n f £7.3 billion (2019: £7.4 billion) \n \n \n · \n Continued strong retention of client\n \n funds - 96%\n \n \n · \n Net inflow of funds of \n £4.5\n billion (2019: £4.4 billion)\n \n \n · \n Group funds under management of \n £115.7\n billion (31 December 2019: £117.0 billion)\n \n \n \n \n \n Financial highlights\n \n \n \n \n \n · \n EEV new business profit £365.3 million (2019: £386.3 million)\n \n \n · \n EEV operating profit £418.7 million (2019: £465.7 million)\n \n \n · \n IFRS profit before shareholder tax £221.9 million (2019: £57.3 million)\n \n \n · \n IFRS profit after tax £178.1 million (2019: £45.8 million)\n \n \n · \n Underlying cash result £114.4 million (2019: £125.1 million)\n \n \n · \n Underlying cash basic earnings per share of 21.4 pence (2019: 23.7 pence)\n \n \n \n \n \n Other highlights\n \n \n \n \n \n · \n We are now represented by 4,324 qualified advisers across the Partnership\n \n \n · \n Achieved a rapid and successful transition to remote working practises in response to the COVID-19 crisis \n \n \n · \n Accelerated the pace of technology investment to facilitate digital processes across the Group and Partnership\n \n \n \n \n \n -2-\n \n \n \n \n \n Andrew Croft, Chief Executive, commented:\n \n \n \n \n \n \"The first half of 2020 has been an extraordinary period, both here in the UK and across the world, as the COVID-19 pandemic has profoundly impacted all our lives.\n \n \n \n \n \n We began the year with renewed confidence and momentum in the business as we saw investor sentiment rise following the UK General Election in December 201...