This helped the company grow underlying profit 6% to £7.13m from £6.72m, earnings per share 3% to 42.59p and to raise its interim dividend 20% to 12p per share.
Net new discretionary business for the six months was 5% up over to £394m, excluding market growth.
Chief executive Chris Macdonald said: “Brooks Macdonald has continued to make good progress, with double digit growth in discretionary funds under management during the first half driving increases in profit and earnings per share. In uncertain markets, we have achieved strong risk adjusted returns for our clients and have progressed a number of significant projects across the group which will help drive future growth.”
“We have continued to see strong organic growth in the early weeks of the second half, albeit the volatility in markets since the New Year is likely to have impacted the group’s funds under management,” Macdonald continued. “Our second half will benefit from the year on year growth of funds under management, but will be impacted by the continuing planned conversion of advisory to discretionary assets by Brooks Macdonald International. Overall subject to the level of the market, we expect to make further progress for the year as a whole.”
“In the six months to the end of December 2015 the group continued to make good progress, with positive growth in discretionary funds under management driving increases in profit and earnings per share,” added chairman Christopher Knight.
