Brewin Dolphin posts 11.5% rise in income

28th Jan 2010 07:38

Stockbroker and fund manager Brewin Dolphin reported a 11.5% rise in first quarter income and said improved trading conditions have continued.Income for the first quarter to 25 December was £56.9m compared with £51m in the same period last year.Investment Management fees increased by 30% compared to the first quarter of 2009 against a 17% increase in the FTSE APCIMS Private Investor Series Balanced Portfolio and a 28% improvement in the FTSE 100 Index respectively at the quarter ends, the main charging dates. Investment Management commissions increased by 13%. Against this, other operating income, the group's share of interest receivable on client deposits, decreased by 42%, in line with falling interest rates and expectations.