Brewin Dolphin profits up in 'worst market since early 1970s'

The firm says the positive result has been achieved against a market background “more challenging than at any time since the early 1970's”. Brewin’s advisory business operating profit was virtually unchanged during the period at £6.6m, with total income up by 2.1% to £36m. However, advisory funds under management plunged 12.8%, falling from £10.9m to £9.5m. The firm’s discretionary fund management activities generated the largest earnings, with operating profit climbing 22.8% to £11m and total income up 17.8% to £60.5m. Brewin says the tough market conditions impacted investment banking...