Rathbone Brothers HY Pre-tax Profit Rises

Rathbone Brothers Plc (RAT.L) reported that its profit before tax for the six months to 30 June 2021 rose to 48.8 million pounds from 27.3 million pounds in the previous year.

Profit for the period attributable to equity holders of the company was 37.96 million pounds or 67.0 pence per share up from 19.42 million pounds or 34.7 pence per share last year.

Underlying profit before tax of 62.9 million pounds at 30 June 2021 was 36.7% higher than the 46.0 million pounds reported a year ago, reflecting strong income levels and controlled cost growth.

Net fee and commission income was 209.43 million pounds up from 172.31 million pounds last year.

Total funds under management and administration reached 59.2 billion pounds at 30 June 2021, up 8.2% from 54.7 billion pounds at 31 December 2020.

The company has increased its interim dividend 8.0% to 27 pence, reflecting confidence in medium-term prospects and the strength of balance sheet. The record date will be 3 September 2021 and the dividend will be paid on 5 October 2021.

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