News

Smith & Williamson Announces Strong Performance for FY18

  • Written By: Mark Gee
  • Published: Mon, 02 Jul 2018 10:08 GMT

Highlights for the year ended 30 April 2018:

  • Operating income growth of 9.0% year-on-year to £266.7m (FY 2017: £244.6m);
  • Adjusted operating profit* increase of 13.8% year-on-year to £46.2m (FY 2017: £40.6m);
  • Adjusted basic earnings per share of 68.7p, a 14.1% year-on-year increase (FY 2017: 60.2p);
  • Total dividends of 36.0p per share, a 12.5% increase year-on-year (FY 2017: 32.0p);
  • Funds under management and advice increased by 6.9% year-on-year to £20.1bn (FY 2017: £18.8bn);
  • Funds under administration increased by 27.2% year-on-year to £11.7bn (FY 2017: £9.2bn).

Smith & Williamson, the financial and professional services firm, announces strong performance and continued growth across all business lines for the year ended 30 April 2018.

Smith & Williamson is marked out from the rest of the market by the breadth and depth of services it provides for private clients and their business interests. This is supported by an absolute commitment to serving clients in a personalised manner and via a single, senior point of contact.

The group has an ambitious five year client-focused growth strategy which will enable it to profit from the significant opportunities in the wealth management and professional services market. This strategy will be supported by:

  • significant investment in new IT systems,
  • continued commitment to attracting, retaining and developing high quality people, and
  • integrated delivery of the group’s comprehensive range of client services.

Kevin Stopps, co-chief executive of Smith & Williamson, said:

“This was another year of solid progress for the group and builds on our longstanding position of strength. We delivered increased profitability, while also continuing to make material investments in our people and technology to support our future success.

“In the face of ongoing economic and political uncertainties, our performance once again demonstrated the value of our business model and the strength of our client relationships. In particular, it underlined the importance of our client-centric approach, through which dedicated and committed individuals deliver high-quality advice to private clients and their business interests.”

David Cobb, co-chief executive of Smith & Williamson, added:

“Our five year strategy will help us grow and improve from an existing position of strength by serving our existing clients even better and more efficiently, while also enabling us to attract new clients. We are interested in making the right type of bolt-on acquisitions to accelerate our growth plans. However, we will continue to be extremely discerning in our choice of targets as we refuse to dilute the quality of our business and people.

“To execute our longer term growth strategy, we have already announced our intention to prepare for a potential stock market listing. This will not take place until we have completed our major investment in new technology platforms, and these are unlikely to be complete before the second half of 2019.”

A copy of the group’s Annual Report and Accounts can be viewed at www.smithandwilliamson.com/annualreport2018

*Adjusted operating profit and adjusted basic earnings per share exclude amortisation of intangible assets - client relationships.

Contact:

Mark Gee, Media Relations Manager
0207 131 4597
Mark.gee@smithandwilliamson.com

FTI Consulting
Neil Doyle, Senior Managing Director
020 3727 1141
Neil.doyle@fticonsulting.com

www.smithandwilliamson.com @SmithWilliamson LinkedIn

DISCLAIMER
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of publication.

Notes to editors
Smith & Williamson is an independently owned professional and financial services group with over 1,700 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. The group has twelve offices; these are in London, Belfast, Birmingham, Bristol, Cheltenham, Dublin (City and Sandyford), Glasgow, Guildford, Jersey, Salisbury and Southampton.

Smith & Williamson Holdings Limited

Smith & Williamson LLP
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.

Smith & Williamson Investment Management LLP.
Authorised and regulated by the Financial Conduct Authority.

Smith & Williamson Investment Services Limited
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Smith & Williamson Fund Administration Limited.
Authorised and regulated by the Financial Conduct Authority.

The Financial Conduct Authority does not regulate all of the services referred to above.

Cookie Settings