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Brewin Dolphin FY21 Profit Climbs, Lifts Dividend - Quick Facts

Wealth management company Brewin Dolphin Holdings PLC (BRW.L) reported Wednesday that its fiscal 2021 profit before tax climbed 16.7 percent to 72.5 million pounds from last year's 62.1 million pounds.

Earnings per share were 18.3 pence, up 15.1 percent from prior year's 15.9 pence.

Adjusted profit before tax was 90.9 million pounds, compared to 78.2 million pounds a year ago. Adjusted earnings per share were 23.8 pence, compared to 20.6 pence last year.

Total income for the period increased 12.3 percent to 405.9 million pounds from prior year's 361.4 million pounds, driven by strong market performance and record discretionary gross inflows.

Total funds increased 19.5 percent over the last 12 months to 56.9 billion pounds.

Final dividend per share up 12.1 percent to 11.1p, taking total to 15.7p per share (2020 final: 9.9p per share, total 14.3p per share).

Further, the Board is proposing a final dividend of 11.1p per share, up 12.1 percent from last year. This takes total dividend for the year to 15.7p per share, up from last year's 14.3p per share.

Looking ahead for fiscal 2022, the company expects commission income to be similar to annualised fourth quarter, 2021, and operating costs to grow mid to high single digit percent.

The company said it is well placed to serve the growing demand for financial advice and capture market share through widening distribution channels, offering a broad range of propositions and investment solutions to all demographics.

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