INTERVIEW:St James's Place:Record Growth Unlikely To Continue

28th Jul 2010 07:46

By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--U.K. wealth management group St. James's Place PLC (STJ.LN) doesn't expect second-half new business growth to remain at the sky-high levels seen so far this year, Chief Executive David Bellamy said Wednesday, following three consecutive quarters of significant rises in new business. "These are fairly exceptional figures and gets us back to a place that's appropriate for the business," Bellamy said, adding that while he was still optimistic for the second half, increases in new business "won't likely be of the same magnitude." St. James's said Wednesday total new business for the six months to June 30 rose 44% on the year, with both the first and second quarters reflecting record new levels of business. In the final quarter of 2009 the company reported a 38% rise in new business. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; [email protected] (END) Dow Jones Newswires July 28, 2010 02:46 ET (06:46 GMT)