British wealth manager Brewin Dolphin has reported a pre-tax profit of £34.1m for the half year ended 31 March 2018, a surge of 20% from £28.4m reported in the same period last year.
Adjusted pre-tax profit stood at £38.8m, up 20% from £32.4m a year ago. Total income increased 10% year-on-year to £161.8m.
The firm’s total funds were £39.7bn at the end of March 2018, up 5% from £37.8bn in the previous year.
Discretionary funds totalled £34.3bn as at 31 March 2018. Net discretionary funds inflows, including transfers, increased to £1.3bn from £1.1bn last year.
Brewin Dolphin CEO David Nicol said: “I am pleased to report a robust first half of our financial year with strong net discretionary inflows, despite challenges in the wider market. We continue to deliver against our strategy and build on the positive momentum across the business.
“We remain positive in our outlook and confident in the strength and increasing relevance of our advice-led service.”