Brewin Dolphin H1 Total Income Rises, Funds Down - Quick Facts

Brewin Dolphin Holdings Plc (BRW.L), a provider of discretionary wealth management, Friday reported that first-half total income increased 8.3 percent to 175.8 million pounds from last year's 162.3 million pounds.

Total first-half net flows were 0.6 billion pounds, representing an annualised growth rate of 2.7 percent. Total funds decreased 8 percent to 41.4 billion pounds.

The second-quarter total discretionary net flows was 0.4 billion pounds, representing an annualised growth rate of 3.8 percent. Total funds were 41.4 billion pounds, down 14.6 percent from first quarter's 48.5 billion pounds.

David Nicol, Chief Executive said, "Not surprisingly, the rapid spread of COVID-19 and the unprecedented reaction of the global markets, has negatively impacted the value of our clients' funds and consequently our second quarter total income."

Looking ahead, the company said the recent market weakness has created a high level of uncertainty as to the outlook for the remainder of the financial year and it is still too early to ascertain the impact this may have on full year 2020 income and profitability.

The Company's half year financial results are scheduled to be reported on May 13.

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