Annual Results 2016

27 Feb 2017

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St. James's Place annual results announcement 2016

STRONG GROWTH UNDERPINS 20% INCREASE IN FINAL DIVIDEND

St. James’s Place plc (“SJP”), the wealth management group, today issues its annual results for the year ended 31 December 2016.

Watch the video below and hear from our Chief Executive, David Bellamy.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

Financial Highlights:

  • EEV new business profit £520.2 million (2015: £440.7 million)
  • EEV operating profit £673.6 million (2015: £660.2 million)
  • EEV net asset value per share 900.7p (2015: 737.3p)
  • Profit before shareholder tax £140.6 million (2015: £151.3 million)
  • Operating cash result (post tax) £226.0 million (2015: £195.6 million)
  • Underlying cash result (post tax) £199.5 million (2015: £182.1 million)

Dividend:

  • Final dividend of 20.67 pence per share (2015: 17.24 pence per share) up 20% providing a full year dividend of 33.00 pence per share (2015: 27.96 pence per share) growth of 18%

Other highlights:

  • Record gross inflows of £11.4 billion (2015: £9.2 billion)
  • Net inflow of funds under management of £6.8 billion (2015: £5.8 billion)
  • Funds under management of £75.3 billion (2015: £58.6 billion)
  • We now have 3,415 qualified advisers, up 10% for the year

David Bellamy, Chief Executive, commented:

Despite the economic and political uncertainty, challenging markets and the surprising political events, St. James’s Place once again achieved strong growth across all key aspects of the business, resulting in another record year of new investments, funds under management and operating profits.

At the heart of our sustained growth is our commitment to achieving good outcomes for our clients and the importance we place on building long term relationships. That very nearly 90% of new investments come from existing clients, referrals and introductions and 99% of our clients, who responded to our recent survey, feel our proposition offers value for money, is testament to the fact that we are doing this.

At the time of our half year results, we increased the interim dividend by 15% and reaffirmed our commitment to continue to grow the dividend in line with the underlying performance of the business. Consequently, and supported by the continued strong performance of the business, the Board has proposed a final dividend of 20.67p per share, up 20%, which brings the full year dividend to 33.0p per share, growth of 18%.

Looking forward, we entered 2017 with a stronger adviser team, a more diversified investment proposition and a greater need for advice clients can rely on. We remain committed to relationship based advice and believe we are better placed than ever to serve our clients well and for the opportunities that lie ahead.”

Enquiries:

David Bellamy, Chief Executive
Andrew Croft, Chief Financial Officer
Tony Dunk, Investor Relations Director
Tel: 020 7514 1963
Tel: 020 7514 1963
Tel: 020 7514 1963
Bell Pottinger
John Sunnucks & Ben Woodford
Tel: 020 7861 3917

View the full press release.

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