February 28, 2018 / 7:21 AM / 4 months ago

St. James's Place posts 36 pct increase in FY operating profit

LONDON, Feb 28 (Reuters) - British wealth manager St James’s Place on Wednesday posted a 36 percent rise in full-year operating profit, as market gains and strong inflows of client cash boosted total assets to a record high.

Operating profits on a European embedded value (EEV) basis, which discounts future cashflows and is one of the main gauges of performance, were 918.5 million pounds, up from 673.6 million pounds in 2016, it said in a statement. (Reporting by Simon Jessop, editing by Silvia Aloisi)

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