This 36% increase in the year to 30 June 2011was part of what the group chairman Christopher Knight described as “significant growth” that has seen Brooks Macdonald grow from £315m in assets under management when it listed on AIM in 2005.
Alongside this growth, the group – that has been going for 20 years this month – also recorded a pre-tax profit of 28%, up from £5.68m to £7.29m, and an increase in revenue of 49%, to £52.2m from £35.1m.
The results allow Knight to propose a dividend for the year of 15p compared to 9p per share in the previous year.
Since the year end, Brooks Macdonald has also acquired Clarke Willmott LLP’s investment management team to give a greater regional presence and an extra £120m of funds under management. It has also launched a funds business headed by Simon Wombwell offering funds of funds and property portfolios. To this end, the firm has also bought property specialist Braemar Group.
Chief executive Chris Macdonald confirmed this growth strategy will continue, saying: “We have, and will continue to pursue, a number of strategies for growth, principally as follows: expanding by organic investment in our core businesses, acquiring investment management teams, expanding our regional presence and developing our product and service offering.”
