LONDON (dpa-AFX) - Investment and wealth management services provider, Rathbone Brothers Plc (RAT.L) reported that its profit before tax for the year ended 31 December 2020 rose to 43.8 million pounds from last year's 39.7 million pounds, reflecting a number of expected items, primarily in relation to the acquisition of Speirs & Jeffrey.
But profit attributable to equity holders of the company for the year declined to 26.65 million pounds or 47.6 pence per share from 26.92 million or 48.7 pence per share in the prior year.
On an underlying basis, earnings per share were 133.3 pence in 2020, compared to 132.8 pence in 2019.
Net interest income for the year dropped to 8.42 million pounds from 16.41 million pounds in the prior year. Net fee and commission income was 353.75 million pounds down from 328.97 million pounds in the previous year.
Funds under management and administration (FUMA) grew by 8.5% to reach 54.7 billion pounds at 31 December 2020, reflecting both strong investment performance and growth. Underlying profit before tax increased by 4.3% to 92.5 million pounds.
The company noted that the outlook for 2021 is uncertain and it can expects continuing volatility.
The company announced a final 2020 dividend of 47 pence per share, which brings the total dividend to 72 pence per share, an increase of 2.9% over 2019. The dividend will be paid on 11 May 2021 to shareholders on the register on 23 April 2021.
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