The company said its low-capital intensive asset and wealth management businesses continued to benefit from substantial inflows of £2.1bn and these businesses accounted for 39.3% of the group’s operating profit.
Recurring income as a percentage of total operating income also increased, up at 69.3% compared to 67.8% in the same period in 2011.
The wealth and investment management arm did particularly well with operating pre-tax profit up 4.9% to £22.9m from £21.8m.
Meanwhile, asset management operating pre-tax profit was up 2.5% to £67.2m and specialist banking saw an increase of 2.3% in operating pre-tax profit to £139m.
The group said: “The successful strategic alignment of the group towards low capital intensive businesses over the past few years has resulted in a scaleable platform from which the group’s asset management and wealth management businesses can continue to grow.”
It added that the integration of Williams de Broë into the wealth management business was progressing well, although costs relating to the acquisition would still reflect in the group’s 2013 financial results.
