| CATEGORY: NEWS AND ANNOUNCEMENTS SECTOR: FINANCIAL SERVICES |
Brewin Dolphin profits slide |
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Wed 02 Dec 2009
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LONDON (SHARECAST) - Stockbroker and fund manager Brewin Dolphin saw profits slide in the year to September 27 after one of the most tumultuous periods for the financial services industry.
Pre-tax profits fell to £21.9m from £32m, even as total income climbed to £212.3m from £206.5m.
‘The financial period under review was extremely challenging, with a further deterioration in conditions in capital markets around the world,’ said Brewin.
‘The UK small and mid cap market place suffered more than most with a further significant drop in corporate activity and trading, as access to both debt and equity capital became severely constrained.’
Executive chairman Jamie Matheson said: ‘Current trading continues to be satisfactory although we should not assume that the economic woes of this country and the rest of the world are completely behind us. Your board remains confident about the future prospects of Brewin Dolphin.’
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