Interim Management Statement

30th Jul 2008 07:00



Brewin Dolphin Holdings PLC

Interim Management Statement

Nine Months Ended 27 June 2008

Brewin Dolphin Holdings PLC, the UK's largest independent private client investment manager, announces its Interim Management Statement (IMS) as required by the UK Listing Authority's Disclosure and Transparency rules.

Income for the third quarter is down 13% over the same period last year. Income for the nine months to 27 June 2008 is £155.4 million, 1% lower than the same period last year (29 June 2007: £156.9 million).

The FTSE APCIMS Balanced Index has declined by 10.5% over the nine month period. By contrast Brewin Dolphin's discretionary funds have fallen by only 3.7%. This steady performance in challenging market conditions arises from the Group's strategy of pursuing growth through the addition of new teams, as well as organic growth from its existing offices.

The core business of Investment Management has held up well but, as indicated in the Interim Financial Report for the six months to 30 March 2008, Investment Banking has had a quiet third quarter.

The Board continues to have confidence in the Company's long term prospects.

Total Income
	Third Quarter to 27 June 2008	Third Quarter to 29 June 2007
	£'000	£'000	% change
Investment management	49,091	46,993	+4.5%
Investment banking	2,222	11,955	-81.4%
Total income	51,313	58,948	-13.0%

The value of clients funds under the Group's management were as follows at 27 June 2008:-

Funds
	At  27 June  2008	At  30 September 2007
	£ billion	£ billion	% change
Discretionary funds	10.3	10.7	-3.7%
Advisory funds	9.1	10.9	-16.5%
Total managed funds	19.4	21.6	-10.2%
FTSE APCIMS Private Investor Series Balanced Portfolio	2,710	3,029	-10.5%
FTSE 100	5,530	6,467	-14.5%

For further information please contact:

Jamie Matheson	George Cazenove
Executive Chairman	Citigate Dewe Rogerson
Brewin Dolphin
020 7248 4400	020 7638 9571

ENDIMSPUUPPMUPRGQB

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