Smith & Williamson, the financial and professional services firm, has announced its interim results for the first six months of the 2018/19 financial year, which has been a period of steady growth and continuing investment in the Group’s infrastructure.
- Group operating income grew 3.6% to £134.8 million (2017: £130.1 million).
- Adjusted operating profit was £21.8 million, an increase of 6.3% over the comparative period in the prior year (2017: £20.5 million).
- Adjusted basic earnings per share increased by 3.4% to 30.8p (2017: 29.8p).
- Interim dividend per share remains at 10p.
- Funds under management and advice remained at £20.1 billion.
Smith & Williamson’s client-focused growth strategy is centred in three key areas: developing our people, delivering integrated services and enhancing technology. The firm has made good progress in the first six months of this financial year, completing a review of our organisational and internal governance structures while continuing with our programme of extensive investment in new IT systems.
The first six months of the financial year have been characterised by a period of steady internal progress, accompanied by a degree of external turbulence. We have delivered a robust set of results, reflecting continued growth and investment across the group, as we build on our longstanding position of strength and the breadth of our capabilities. Our performance further emphasises the value of our business model and the strength of our client relationships. We regard current market uncertainties as an opportunity for us to reinforce those relationships further, while guiding our clients through any difficulties and helping them to maximise their financial potential.
The group’s results reflect steady growth in all areas and I am pleased to report we are making good progress in the delivery of our longer-term growth strategy. In spite of short-term uncertainties in the current market environment, we remain positive about the longer term outlook and potential for our business and believe we will be in a good position to capitalise on significant opportunities in the wealth management and professional services market.
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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.
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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
Smith & Williamson Investment Management LLP is part of the Smith & Williamson group. 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.