Quilter plc (QLT.L), a wealth management company, Wednesday reported a loss before tax of 60 million pounds for the full year compared with profit before tax of 12 million pounds in the previous year, primarily due to higher one-time expenses.
Excluding special items, adjusted profit before tax increased 17 percent to 196 million pounds from 167 million pounds last year.
The company posted a loss after tax of 34 million pounds or 2.5p per share compared with profit of 42 million pounds or 3.1p per share a year ago.
Adjusted profit after tax was 148 million pounds or 10.6p per share, up from 129 million pounds or 9.4p per share last year.
Revenue for the year increased to 670 million pounds from 625 million pounds in the prior year.
Net management fee rose to 502 million pounds from 477 million pounds last year, and investment revenue increased to 71 million pounds from 62 million pounds.
Assets under management and administration or AuMA grew 12 percent to 119.4 billion pounds from 106.7 billion pounds a year ago.
The company's Board has recommended a final dividend of 4.2p per share, to be paid on May 27, to shareholders of record on April 11.
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