St. James's Place Half Year Results 2017

40% GROWTH IN NET INFLOWS, FUNDS UNDER MANAGEMENT OF £83.0 BILLION AND DIVIDEND UP 25%

St. James’s Place plc (“SJP”), the wealth management group, today issues its half year results for the six months ended 30 June 2017.

Watch the video below and hear from our Chief Executive, David Bellamy, as he talks about our half year results for the six months to 30 June 2017.

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.

New Investment and Funds under Management:

• Gross inflow of funds under management of £6.9 billion (2016: £5.3 billion)
• Net inflow of funds under management of £4.3 billion (2016: £3.1 billion)
• Group funds under management of £83.0 billion (2016: £65.6 billion)

St. James’s Place Partnership:

• Total number of advisers at 3,540, up 3.7% since the start of the year

Profit:

EEV basis:

• New business profits of £343.0 million (2016: £228.9 million)
• Operating profit at £397.3 million (2016: £284.0 million)

IFRS basis:

• Underlying profit before shareholder tax of £106.3 million (2016: £73.8 million)
• Profit before shareholder tax of £79.6 million (2016: £60.5 million)

Post tax cash result:

• Operating cash result of £139.0 million (2016: £103.1 million)
• Underlying cash result of £123.1 million (2016: £94.4 million) 

Interim Dividend:

• Interim dividend 15.41 pence per share (2016: 12.33 pence per share)

David Bellamy, Chief Executive, commented:

“I am very pleased to report that the momentum we experienced in the first quarter has continued, with new and existing clients entrusting St. James’s Place with some £6.9 billion of new investments in the first six months, some 30% higher than the same period last year. Importantly, through the excellent work of our Partners and their staff in building and maintaining close relationships with clients, we are also able to report strong retention levels, resulting in net inflows for the period of £4.3 billion, up 40%. Group funds under management ended the half year at a new record high of £83.0 billion.

As expected, we’ve also seen further growth in the total number of advisers working across the Partnership. As our client base grows, so too does the scale of our Partner businesses as they develop from largely single adviser practices, into small and medium size businesses, adding value to the clients they attract and serving them well. We see this as very positive development, which bodes well for the sustainability and succession of our Partner businesses, and continued growth.

Setting aside the political and macro-economic backdrop, the challenges and responsibilities that individuals face, when considering how to manage their wealth, remain. The implications of sustained low interest rates, longer life expectancy, enhanced pension freedoms and greater emphasis on individual financial responsibility, all highlight the continued need for and importance of sound, personal and trusted advice.

The continued momentum across all aspects of our business and growth in adviser numbers underpins why we remain confident in our ability to deliver sustained growth.

Given our strong business performance and our confidence in the future, the Board has declared a 25% increase in the interim dividend to 15.41 pence per share.”

Enquiries:

View the full press release.