Charles Stanley sees profits soar 150%

Funds under management fall

Charles Stanley has seen profits before tax soar 150% in the six months to 30 September, driven by the sale of its non-core businesses and a re-focus of its divisions.

In its interim results, the company announced that profits had reached £2m, up from a loss before tax of £3.9m in the same period last year. The company also saw revenues from its core business up 4% to £70.8m while profits before tax from core businesses were up 200% to £3m compared to £1m in 2014.  Paul Abberley (pictured), chief executive of Charles Stanley Group, said: "Significant progress has been made during the period, in line with the stated three-to-five year strategy announced at the last set of results. Our first priority was to arrest the decline in profitability, which w...