Smith & Williamson boasts 13% growth

Smith & Williamson has reported fee growth of 13%, to £170.3m.

The firm posted a profit before tax of £31.2m during the period,
representing an increase of 23% over the same period last year.

In addition, operating income has increased 13% to £170.3m and annual
dividend increased by 24% to 20.5p per share.

The operating divisions of investment management and banking and tax and
business services both recorded growth in revenue and profitability.

Gareth Pearce, chairman at Smith & Williamson, said while the economic
climate continues to test business, the firm has been able to retain and acquire
new clients.

‘Markets remain unpredictable and the UK economy faces considerable
challenges, but the new year has started well,’ he said.

Throughout the reporting year, Smith & Williamson opened a Bristol
investment management business, and expanded into Ireland through the
acquisition of Oliver Freaney & Company.

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