Brewin CEO: 'Expansion is now firmly on our agenda'

Take advantage of opportunities

Brewin Dolphin chief executive David Nicol (pictured) said the group is now in a "strong position to take advantage of opportunities", as it reported adjusted profits before tax for the year to the end of September rose 7% to £62.2m.

This was an increase from £58.4m reported for the previous year. Meanwhile, Brewins' adjusted profit before tax margin was 21.9% for the period, compared to 20.8% in 2014. Total funds under management fell from £32.5bn to £32bn over the period. However, discretionary FUM rose 3%, from £24bn to £24.8bn. The group said net discretionary inflows of £1.1bn were in line with its 5% annual target, while gross external inflows were £2.1bn (2014: £2.3bn). Shares responded well to the results in early trading to rise 3.6% higher than opening. At 10.25am they were trading at 266.8p. However,...