Profits up at Brewin Dolphin

Darryn Richards

Staff at the Truro office of Brewin Dolphin have been commended for their efforts as the group reported a 43% rise in pre-tax profits.

The firm, which specialises in investment management, posted a profit before tax of £31.4 million in the year to September 26, when total income rose 18% to £250.9 million.

During the period the group’s total managed funds increased from £20.5 billion to £23.2 billion.

Darryn Richards, divisional director in the Truro office, said: “We have had a very creditable year in Truro and our staff, who are all local, have worked exceptionally hard.

“Many of our clients have added to their portfolios, increasing our funds under management. I’m very pleased with the contribution we have made to the group’s results.”

Executive chairman Jamie Matheson said: “Our growth plans continue to be built around an unstinting focus on high levels of service and the ability to attract new clients this reputation provides.

“It would appear there is a growing realisation that prudent financial management and the merits of equity over debt finance are a fundamental key to economic growth.

“In particular we believe this view is strongly held in the UK, and this leads us to look to the future with optimism.”