Tuesday 28 July 2009

Charles Stanley says first quarter performance ‘solid’ in challenging market

Stockbrokerage Charles Stanley Group PLC (LSE: CAY) said the business has performed solidly since the beginning of the new financial year on April 1 2009 in markets that continue to be challenging, and income has been resilient across all three divisions Private Clients, Financial Services and Charles Stanley Securities.

Revenue for the three months to June 30 was 2.4 percent higher than in the previous first quarter at £26 million.

Total client funds under investment management or administration rose during the quarter by 10 percent to £9.9 billion from £9.0 billion at March 31.

“It is difficult to predict how much longer the current conditions will prevail. However, with a strong balance sheet Charles Stanley is well placed to take advantage of further acquisition opportunities,” the broker added.

www.proactiveinvestors.co.uk

No comments:

Post a Comment