Update: Charles Stanley shares fall 2.7% following revenue hit

FUM also drop 3.8%

Charles Stanley has significantly reduced its losses for the year ended 31 March, but remains in the red as revenues decline year-on-year.

The wealth manager has reduced its loss after tax to £0.3m over the year, compared to £6.1m the previous year. However, it has seen a decline in reported revenue to £141.6m, from £149.7m during the year ended 31 March 2015. Charles Stanley's Aldous: Why we are watching closely from the sidelines on robo-advice The group has attributed the drop to "lower levels of activity" across the market in recent months, as well as the disposal of non-core businesses last year. Charles Stanley has also seen a 3.8% drop in client funds under management and administration to £20.5bn, from £21....