Advisory firm Brooks Macdonald has posted a 23% rise in profits for the second half of last year, while funds under management rose by over 3% during the period.
The asset management firm said its pre-tax profit rose 46% to £1.26m, while revenue rose to £9.65m from £7.8m the previous year. Basic earnings per share rose to 8.35p, up 24%.
"These results reflect not only the continued excellent progress made by the Group but also the robust nature of our business model," says Chris Macdonald, chief executive of Brooks Macdonald.
He concludes: "Whilst the current economic environment remains very challenging, the Group is well positioned to build on its recent growth both organically and through opportunities that may arise."
Brooks Macdonald is a fee-based, integrated private client discretionary asset management and financial advisory business.IFAonline
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