LONDON (dpa-AFX) - Rathbone Brothers Plc. (RAT.L), a provider of personalised investment and wealth management services, on Tuesday reported higher profit for the year and hiked its dividend.
Total comprehensive income attributable to equity holders of the company grew to 23.76 million pounds from 19.48 million pounds. Earnings per share increased to 65.90 pence from 49.35 pence.
Profit before tax climbed to 39.2 million pounds from 30.1 million pounds in 2010.
Total funds under management grew 1.4 percent to 15.85 billion pounds at 31 December 2011.
Net fee and commission income improved to 131.46 million pounds from 116.67 million pounds. Net interest income grew to 10.02 million pounds from 8.83 million pounds.
The Board recommended a 29 pence final dividend for 2011, compared to 28 pence last year.
Andy Pomfret, Chief Executive of Rathbone Brothers Plc, said, 'Rathbones is cautiously optimistic about the prospects for 2012 with the UK equity market ending 2011 on a more positive note...some developed economies are showing small signs of improvement, particularly the USA. We are seeing signs of underlying cost inflation but we will continue to invest in and grow our business.'
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