This translates into a 30% fall in earnings per share to 10.5p. The dividend will be relatively flat, increasing 4% to 12.25p.
Other numbers are in positive territory with total funds 14% up to £20.1bn, revenue up 17% to £149m, discretionary funds up 28% to £8.2bn and money from fees increased 18% to £90m.
Charles Stanley opened a new office in Leicester last October and then acquired Evercore Pan Asset Capital Management in December, which both required a significant outlay.
"The increase in revenue and in our funds under management and administration is very pleasing but this has been a year of significant cost and investment in our future, which has impacted on our profit,” said chairman Sir David Howard. “This pace of development is likely to continue over the year ahead, but the changes that are in place already should, all things being equal, deliver an improvement in our profitability,” he continued.
Howard added that there are too many uncertainties at this early stage of the year to make any reliable predictions and is therefore approaching the future with a degree of caution.
Charles Stanley is engaged in a legal dispute with rival Brewin Dolphin but it noted it is confident it will not be found at fault.
