Brewin Dolphin has reported interim results which show FuM growth in Q2 and improved financial performance, namely operating margin accretion. Overall, 3.8% group FuM growth to £37.8bn in Q2 comprises 8.0% annualised net inflows in discretionary – a product of flow stability – and positive investment performance. This morning’s results are in line with expectations at this point in the year: H1’17 PBT accounting for 48% of our FY17e forecast. We do not expect to make material changes to our fore ....
17 May 2017
N+1 Singer - Brewin Dolphin Holdings - Positive interims showing Q2 FuM growth and margin accretion
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
N+1 Singer - Brewin Dolphin Holdings - Positive interims showing Q2 FuM growth and margin accretion
- Published:
17 May 2017 -
Author:
Andrew Watson -
Pages:
3
Brewin Dolphin has reported interim results which show FuM growth in Q2 and improved financial performance, namely operating margin accretion. Overall, 3.8% group FuM growth to £37.8bn in Q2 comprises 8.0% annualised net inflows in discretionary – a product of flow stability – and positive investment performance. This morning’s results are in line with expectations at this point in the year: H1’17 PBT accounting for 48% of our FY17e forecast. We do not expect to make material changes to our fore ....