27 November 2008

Highlights

• Total income £206 million (2007: £209 million).
• Discretionary funds £10.2 billion at 28 September 2008 (2007: £10.7 billion), a fall of 4.7% which compares to falls of 21.3% and 14.6% of the FTSE 100 Share Index and FTSE APCIMS Private Investors Series Balanced Portfolio Index respectively over the same period.
• Profit before tax £36.2 million (2007: £41.7 million).
• Earnings per share:
  • Diluted earnings per share 11.7p (2007: 13.8p).
  • Basic earnings per share 12.2p (2007: 14.5p).
• The total dividend for the period is 7.1p^# per ordinary share (2007: 6.875p^##) a 3.3% increase.
• Proposed final dividend 3.55p per share up 1.4% against 3.5p per share in 2007.

^# (paid September 2008 and payable April 2009), ^## (paid October 2007 and April 2008)

Declaration of Final Dividend
The Board is pleased to announce that we are proposing a final dividend of 3.55p, to be approved at the 2009 AGM and payable on 6 April 2009 to shareholders on the register at close of business on 13 March 2009, with an ex-dividend date of 11 March 2009.

Jamie Matheson, Executive Chairman said:
"In a year characterised by difficult and volatile trading conditions, your Company achieved a relatively resilient performance reflecting the fundamental strengths and scale of the business.

Overall, as the UK’s largest independent private client investment manager focused on long term equity investment, we have a good platform to continue to develop despite the uncertain economic environment."

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