Brewin Dolphin 3Q Income +20% To GBP61.5M, Funds Top GBP21.6B

28th Jul 2010 07:29

LONDON (Dow Jones)--Brewin Dolphin Holdings PLC (BRW.LN), an independent private client investment manager, said Wednesday income for the third quarter ended June 27, is GBP61.5 million, 20% higher than the same period last year. MAIN FACTS: -Total income for the 39 weeks rose 17% to GBP182.4 million, from GBP156.16 million. -Total managed funds rose 5.4% to GBP21.6 billion, from GBP20.5 billion. -Investment Management revenue rose 28% compared to the same quarter last year, outstripping a 22% rise in the APCIMS index. -Group currently has a consolidated capital adequacy surplus of GBP18 million; Group's cash balances excluding client balances as at June 27, were GBP56 million. -In the short term the Group's trading performance is very dependant on markets but we are maintaining our long term target of growing discretionary funds by at least 5% above market movement. -Shares closed Tuesday at 125 GMT valuing the company at GBP287.75 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; [email protected] (END) Dow Jones Newswires July 28, 2010 02:29 ET (06:29 GMT)