profits

Collins Stewart Wealth Management has reported a 10% profit jump following two acquisitions and tighter cost controls.

The distribution unit of wealth manager St James's Place (SJP) turned a huge loss in 2009 into a significant profit last year after new business increased by a third.

The Royal Bank of Scotland Group reported a small £9m net profit over the first half of the year, after recording a £1.14bn pre-tax profit in the six-month period.

Legal & General Investment Management (LGIM) posted a 32% increase in IFRS operating profit during the first half of 2010, with the group recording gross new business of £21.2bn.

The number of UK-listed companies issuing profit warnings fell to the lowest level in about seven years during the second quarter.

Legal & General Investment Management saw net inflows of nearly £8bn into its funds during the first half of the year.

Invesco Perpetual's Samantha Ho is ready to take profits on holdings in her Hong Kong & China fund in the coming months, expecting the region to see some short-term volatility.

Henderson Group has retained a better than expected 77% of New Star fund assets but warned first half profits will be half the level of a year ago.

The number of profit warnings issued by UK companies in the three months to the end of June fell to the lowest level since the same period in 2003, a report shows.

Liontrust's European Absolute Return fund has now launched, to be co-managed by Gary West and James Inglis-Jones.