SMITH & WILLIAMSON ALERT AS PROFITS FALL

摘要

Smith & Williamson's co-chief executive Kevin Stopps has warned that the firm's costs relating to investment for future growth - which has impacted on its financials, resulting in a 24% drop in adjusted operating profit, from £19.1 m in the previous year to £14.5m for the six months to 31 October 2015 - may hamper profits in the near future. The firm said the impact of planned spending, including substantial investment in IT and new processes, as well as a 4% increase in staff numbers, particularly in the professional services area, comes alongside a 2% drop in funds under management, in the half year to 31 October 2015.