Update: Charles Stanley shares rise 5% after firm returns to profit

Two years of losses

Laura Dew
clock • 2 min read

Charles Stanley shares are up 5% this morning after the firm announced a significant increase in annual profits following its restructure, after seeing two consecutive years of losses.

Shares in the wealth management company rose 5.1% to trade at 360p and are now up 23% since the start of the year.  In its results for the year to 31 March 2017, the wealth management firm said pre-tax profit was £8.8m, up from a loss of £300m a year ago. In 2015, the firm reported a loss of £6.1m. This was driven by strong financial markets and the transformation programme the firm has been undergoing for the past two years. This has involved disposing of non-core assets, streamlining the business and focusing on four client-facing divisions. However, the results stated this figur...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Wealth Management

Wealth management heavyweights join KKR's Global Wealth Investment Council

Wealth management heavyweights join KKR's Global Wealth Investment Council

Newly formed forum

Valeria Martinez
clock 25 March 2024 • 1 min read
M&G Wealth Platform to host full MPS range from 7IM

M&G Wealth Platform to host full MPS range from 7IM

Expands accessibility for advisers

Sahar Nazir
clock 19 February 2024 • 1 min read
Redington head of global assets Gillespie: Do you trust your DFM?

Redington head of global assets Gillespie: Do you trust your DFM?

Five key questions to ask

Tara Gillespie
clock 31 January 2024 • 4 min read
Trustpilot