Brooks profits up 22% but warns of margin pressures post-RDR

Brooks Macdonald, the AIM-listed wealth management group, reported pre-tax profits were up 22% for the year ending June 2013, although it warned of future pressures on margins.

Pre-tax profit at the group - which calculates its figures from June to June -jumped from £8.5m in 2012 to £10.4m this year. Revenue rose 19% to £63.2m, up from £53.3m the previous year. The group also reported a year-on-year increase of 45% in discretionary funds under management to £5.11bn, which it attributed to acquisitions, performance and organic growth in distribution, as well as strategic alliances. Organic growth - stripping out market growth and acquisitions - was 15%. Brooks Macdonald's own funds under management grew to £390m, up from £148m last year, including the acq...