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RPT-UPDATE 1-Charles Stanley H1 adj pretax profit falls, div up

Thu Nov 5, 2009 3:03am EST

Stocks

   

(Repeats to widen distribution)

* H1 adj pretax profit 6.6 mln stg vs 6.9 mln stg

* H1 pretax profit 5.5 mln stg vs 5.1 mln stg

* H1 rev up 14.1 pct at 55.9 mln stg

* Increases interim div to 2.20p from 2.10p

* Looks at months ahead with some optimism

(Adds details)

Nov 5 (Reuters) - British independent stockbroker Charles Stanley Group Plc (CAY.L) posted a 4.3 percent fall in first-half adjusted pretax profit but increased the interim dividend by about 4.8 percent.

"The economic outlook is no clearer today than it was in June," Chairman David Howard said in a statement

Howard, however, said he looks forward to the months ahead with a degree of optimism.

The company raised its interim dividend to 2.20 pence from 2.10 pence.

For the six months ended Sept. 30, the company's adjusted pretax profit fell to 6.6 million pounds from 6.9 million pounds a year ago.

However, pretax profit for the first-half increased 6.8 percent to 5.5 million pounds.

Revenue rose 14.1 percent to 55.9 million pounds.

Funds under investment management or administration at the end of September was 11.6 million pounds compared with 10.1 billion pounds a year ago.

Shares of Charles Stanley closed at 263.50 pence on Wednesday on the London Stock Exchange. (Reporting by Shivani Singh in Bangalore; Editing by Maju Samuel)



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