19th Feb 2015 07:40
LONDON (Alliance News) - Rathbone Brothers PLC reported that its profit before tax for the year ended 31 December 2014 increased 3.4% to 45.7 million pounds from 44.2 million pounds in 2013.
Profit for the year attributable to equity holders of the company was 35.64 million pounds, higher than last year's 34.75 million pounds. But, earnings per share declined to 75.3 pence from 75.6 pence in the prior year.
Underlying profit before tax increased 21.8% to 61.5 million pounds from 50.5 pounds million. Underlying basic earnings per share increased by 18.1% to 102.4 pence from 86.7 pence last year.
Total funds under management were 27.2 billion pounds at 31 December 2014, up 23.6% from 22.0 billion pounds at 31 December 2013.
Net interest income grew to 9.159 million pounds from 8.608 million pounds in the prior year. Net fee and commission income rose to 187.51 million pounds from 164.39 million pounds in the prior year.
The company said its board recommended a 33 pence final dividend for 2014 (2013: 31 pence), making a total of 52 pence for the year (2013: 49pence), an increase of 6.1% on 2013.
Looking ahead for 2015, the company said it will continue to invest in both people and infrastructure, working within the financial disciplines required to deliver a 30% underlying operating margin throughout the economic cycle.
Copyright RTT News/dpa-AFX
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