7th May 2008 07:01
Rathbone Brothers PLC07 May 2008 RATHBONE BROTHERS PLC 7 May 2008 INTERIM MANAGEMENT STATEMENT - THREE MONTHS ENDED 31 MARCH 2008 Operating income up by 4.0% New office in Birmingham Interim Management Statement This statement is the first Interim Management Statement in accordance with theUK Listing Authority's Disclosure and Transparency Rules. It covers the periodfrom 1 January 2008. Rathbone Brothers Plc, a leading provider of discretionary fund management andwealth management services for private investors and trustees, announces anincrease in operating income over the first quarter of 2008 of 4.0% to £38.7million compared to £37.2 million in the first three months of 2007. Total revenues and operating income 1st quarter to 1st quarter to Change 31 March 2008 31 March 2007 £m £m %Investment management 38.2 32.8 16.5Unit trusts 5.9 7.1 -16.9Tax and trust 7.0 6.2 12.9Total revenues 51.1 46.1 10.8Interest payable and similar (9.9) (6.2) 59.7chargesFees and commissions payable (2.5) (2.7) -7.4Operating income 38.7 37.2 4.0 Funds under management 5 April 31 December 2007 Change since 2008* 31 December 2007 £bn £bn % Investment management 10.74 11.23 -4.4(segregated funds)Unit trusts 1.68 1.89 -11.1Total Funds Under Management 12.42 13.12 -5.3 FTSE APCIMS Balanced 2869 3024 -5.1FTSE 100 5947 6457 -7.9 *5 April is the first quarterly date at which client account fees for RathboneInvestment Management are charged during the calendar year. Rathbones' othercharging dates are: 30 June, 30 September and 31 December. New office in Birmingham Rathbone Investment Management is opening its first office in Birmingham in thesummer of this year. It has recruited three investment managers and will lookfor other experienced individuals to help grow its investment managementpresence in this important centre. Annual General Meeting Rathbone Brothers Plc is holding its annual general meeting at 12 noon todaywhere the following comments will be made regarding current trading and theoutlook for the remainder of 2008. Mark Powell, chairman of Rathbone Brothers Plc, commented: "Despite the challenging conditions in world stockmarkets, Rathbones hasachieved a 4% growth in total operating income in the quarter to 31 March 2008.Total funds under management have fallen by 5.3% as at 5 April 2008, comparedwith a fall of 5.1% in the FTSE APCIMS Balanced Index and 7.9% in the FTSE 100Index in the period since 31 December 2007. Rathbones remains in a strongfinancial position." For further information contact: Rathbone Brothers Plc 020 7399 0000 (Switchboard)Mark Powell, ChairmanAndy Pomfret, Chief ExecutiveEmily Morris, Marketing Director SmithfieldReg Hoare/Miranda Good 020 7360 4900 Rathbone Brothers Plc Rathbone Brothers Plc specialises in providing, through its subsidiaries, highquality, personalised investment management and wealth management services forprivate investors and trustees, including discretionary fund management, unittrusts, tax planning, trust and company management, pension and bankingservices. It manages £12.4 billion of funds, including £1.7 billion managed byRathbone Unit Trust Management Limited (as at 5 April 2008). Headquartered in London, Rathbones has UK offices in Bristol, Cambridge,Chichester, Edinburgh, Exeter, Liverpool, London and Winchester. It has overseasoffices in Jersey, Geneva, Singapore and the BVI and will open in Aberdeen andBirmingham in summer 2008. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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