Wealth manager Charles Stanley Group reported a record 4.6 per cent increase in total client funds under management during the last quarter, according to an interim management statement Friday.
The company posted £16.36bn as at December 31st, up from £15.64bn in the previous quarter.
Results were driven in part by discretionary managed funds which rose 7.1% to £5.73bn.
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Revenue jumped 13.5% to £31.1m in the third quarter of 2012, following a poor performance in the same period the year earlier.
"This is a good result but reflects a comparison with what was a very poor quarter last year. Challenging market conditions and economic uncertainty had depressed financial activities and transaction volumes in the three months to December 2011," the company said.
Business has since turned around as transaction volumes stabilised.
Commission revenue increased 14.1% quarter-on-quarter along with fee income which rose 13.1% year-on-year and represents 61% of revenues.
"This improvement in revenue occurred across all divisions with financial services posting an increase of 14.8% and Charles Stanley Securities an increase of 16.2% compared with the same quarter last year," the company said.
"We anticipate that economic and market conditions will remain uncertain but are confident that our broadly based business mix and financial strength will allow us to continue to produce a creditable performance."
Shares rose 1.70% to 334.59p at 11:30 Friday.
RD
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