Acquisition gives a boost to Rathbone profits and payout
Friday 12 April 1996
Announcing a 20 per cent rise in pre-tax profits to pounds 7.4m for 1995, Oliver Stanley, chairman, said the group was still on the look-out for further deals but would not diversify from its core activities.
Mr Stanley said he was pleased with the performance of Laurence Keen, which Rathbone acquired last March for pounds 10m in shares.
The existing investment management departments in London and Liverpool are still expanding and, following the Laurence Keen deal, Rathbones has pounds 2bn of funds under management. Both the trust and advisory department enjoyed good years, with significant increases in business.
Mr Stanley said that with much of the trust department's revenue earnings and operating expenses in Swiss francs, the group was helped and hindered by the currency's strength.
Group turnover rose from pounds 18m to pounds 28m. Earnings per share rose from 21p to 21.3p and the final dividend was increased from 9p to 10p.
Rathbone was established in 1742 to manage the fortunes of the Liverpool Rathbone family, which made its fortunes in timber and ships. It has expanded into the management of private client money since it merged with Combined Financial Services in 1988.
- 1 Woman 'suffocates newborn baby in plastic bag and puts it in her desk minutes after giving birth'
- 2 I've been called an abusive and dangerous parent, when all I did was listen to my transgender child
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
- 5 Chinese student carries disabled friend to school every day for three years
Nepal earthquake in pictures: Photos show devastation caused by 7.8 magnitude earthquake
Royal baby: Live updates as superbug closes ward at St Mary's Hospital in London where Duchess of Cambridge is due to give birth
Nepal earthquake: Rescuers forced to dig with their bare hands in search for survivors as images show damage to historic buildings
Ed Miliband and Boris Johnson in angry clash live on BBC's Andrew Marr Show
Bali Nine executions: British grandmother on death row in Indonesia Lindsay Sandiford says she 'just wants to get it over with'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...