February 27, 2019 / 7:14 AM / 23 days ago

St. James's Place asset boost drives 9 pct rise in operating profit

LONDON, Feb 27 (Reuters) - British wealth manager St. James’s Place on Wednesday posted a 9 percent increase in full-year operating profit, boosted by an increase in funds under management.

SJP, which provides a range of financial services to wealthy individuals, said operating profit on a European embedded value (EEV) basis was 1 billion pounds ($1.32 billion) at the end of December, from 918.5 million pounds a year earlier.

$1 = 0.7550 pounds Reporting by Simon Jessop, editing by Sinead Cruise

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