Company News
2004
St. James’s Place Capital Preliminary Announcement
24/02/2004
ANNOUNCEMENT OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2003
St James’s Place Capital plc (SJPC), the wealth management group, announces its annual results for the year ended 31 December 2003.
Achieved Profit highlights include:
- Total group profit before tax of £103.9 million (2002: loss before tax of £62.9 million)
- Group operating profit of £60.9 million (2002: £80.9 million)
- New business profits of £25.0 million for the year (2002: £33.0 million)
- Second half operating profit of £35.8 million up 43% on the first half of the year
Other highlights include:
- New business in the second half of the year up 11% and up 24% for the final quarter (measured on an annual premium equivalent)
- Gross Wealth Management fees of £20.8 million up 78%
- Size of the St James’s Place Partnership up 2% to 1,124
- Funds under management up 34% to £7.9 billion
Proposed final dividend of 1.5p per share making a total dividend for the year of 2.75p (2002: 2.75p).
Sir Mark Weinberg, Chairman, commented:
“2003 was very much a year of two halves and we are pleased with the recovery in new business and profits during the second half of the year.
“The start of 2004 has been very encouraging with new business volumes since the start of the year running substantially ahead of the same period last year.”
Enquiries:
| Sir Mark Weinberg, Chairman | Tel: 020 7514 1909 |
| Andrew Croft, Group Finance Director | Tel: 020 7514 1909 |
| Nitya Bolam, Brunswick | Tel: 020 7404 5959 |
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