Aim-listed Brooks Macdonald has reported a 25.8% year-on-year increase in total discretionary funds under management (FUM), reaching £11.7bn at 31 December 2017, but said statutory profits fell due to a £5.5m increase in the provision for resolving its Spearpoint legacy matters.
The group said the rise in FUM led to a 10.9% rise in revenues from £44m in the half-year ended 31 December 2016 to £48.8m or the same period in 2017. However, statutory profit before tax fell from...
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