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Charles Stanley reports profit hike

Charles Stanley has reported a profit increase of 6.8 per cent for the first half of 2009.

The group reported profit before tax of £5.49m, a 6.8 per cent increase on 2008’s pre-tax profits of £5.14m.

Its revenue for the half-year was £55.9m, up from £49m at the end of 2008, a14.1 per cent increase.
The funds under Charles Stanley’s management or administration totalled £11.6bn compared with £10.1bn at the end of 2009. Discretionary funds under management reached a new record high for the firm of £3.5bn.
Charles Stanley chairman Sir David Howard says: “In commenting on our full-year results five months ago I pointed to the early signs of recovery. Next year will be an uncertain year that will include a general election but the indications at this stage are favourable, and I look forward to the months ahead with a degree of optimism.”


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