St James's Place Funds Under Management GBP22.4B At End Of 1H

28th Jul 2010 07:14

LONDON (Dow Jones)--U.K. wealth management group St. James's Place PLC (STJ.LN) Wednesday posted a 44% rise in new business in the first half and said it was positive on delivering further growth for rest of the year, albeit with tougher comparatives in the final quarter. For the six months to June 30 St. James's said total funds under management were GBP22.4 billion at the half-year end, up from GBP16.9 billion a year earlier. Total new business for the six months, on an annual premium equivalent basis, was up 44% with both the first and second quarters reflecting record new levels of business. The company said new single investment and pension business in the six months of GBP2.4 billion was some 60% higher than in the same period of 2009. Based on International Financial Reporting Standards profit before shareholder tax increased to GBP36.3 million from GBP20 million in the same period a year earlier. The company increased its interim dividend 10% on year to 2.025 pence a share. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; [email protected] Order free Annual Report for St. James's Place Visit http://djnweurope.ar.wilink.com/?ticker=GB0007669376 or call +44 (0)208 391 6028 (END) Dow Jones Newswires July 28, 2010 02:14 ET (06:14 GMT)