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Profits down at Rathbone Brothers

Discretionary investment management and private client services group Rathbone Brothers saw its pre-tax profits fall 21 per cent to £11.2m in the six months to June 2001, from £14.2m for the same period last year.

But the group saw funds under management increase by 20 per cent to £6bn from £5bn a year ago.

Rathbone Brothers chairman Micky Ingall says: “Stockmarkets remain weak but the underlying business is growing and I am confident that when stability or, dare I say, growth returns to the market, this underlying strength to our business will show through.”

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