Charles Stanley cuts losses by £5.8m

Added 16th June 2016

Charles Stanley reported today it had reduced its total losses to around £300,000 for the year ended 31 March, a significant improvement on the £6.1m loss the previous year.

Charles Stanley cuts losses by £5.8m

Revenues fell however, with £141.6m being recorded over the year versus £149.7m the year before. It maintained its total dividend at 5p per share.

The company has been in a state of flux recently as it carried out a strategic review. It is reorganising the business into four divisions; investment management services, asset management, financial planning, and its platform Charles Stanley Direct.

In its results presentation the company also revealed plans to expand its financial planning business.

Chief executive Paul Abberley said: "Our three-fold priorities for the year were to arrest the decline in profitability, determine and begin to implement the strategic direction for Charles Stanley and build the foundations upon which we can drive sustainable growth.  Solid progress was achieved in each.” 

“We have reduced our losses by £5.8m, refocused on core activities that will allow us to deliver high levels of customer satisfaction, and made significant progress in terms of making the Group more efficient over the long-term,” Abberley added. “We look forward to another year of progress as we pursue our aim of becoming the UK's leading wealth manager."

Kames Income Hub


Vincent McEntegart, manager of the Kames Diversified Monthly Income Fund, explains how he aims to deliver a stable and sustainable income of 5% p.a.*, paid monthly, by investing in a range of asset classes

Square Mile Research

Matthews Asia Funds Asia Dividend
Matthews Asia Funds Asia Dividend...

Talking Factsheets is a video service for users...

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

Alex Sebastian

News editor

Alex joined Portfolio Adviser in April 2014 and has been a financial journalist since 2008. He has previously held editorial positions at the Financial Times Group and Euromoney Institutional Investor. Alex is NCTJ qualified and has a degree in economics from the University of Sussex.



Investment Strategy




PA Channel Island 2016
PA Channel Island 2016

8th November 2016
The Royal Yacht, Jersey


17th November 2016
The Andaz

PA Emerging Markets 2016
PA Emerging Markets 2016

1st December 2016
The Mayfair, London

Sponsored Content

Investment Strategy