St. James's Place takes £34m hit to profits as H1 inflows drop

Pedro Gonçalves
clock • 1 min read

Profits at British wealth manager St. James's Place took a £34m as weaker client sentiment weighed on inflows of new money in the first half of the year while costs rose. Net inflows fell from £5.2bn to £4.4bn year-on-year, helping drive operating profit down to £465.7m. This was below analyst expectations of £480.2m and the £489.6m posted in the first half of 2018. Underlying profit, before shareholder tax, dropped from £115.4m in 2018 to £81.5m.  Costs rose from £797.3m to £824.2m ...

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