Charles Stanley Posts FY Loss

Charles Stanley Group PLC posted a loss for the year ended March 31.

Charles Stanley posted a full-year loss before tax of £6.1 million, versus a year-ago profit of £6.1 million. Its adjusted pre-tax profit slipped to £4.2 million for the year, versus £13.5 million last year.

Its revenue climbed 1 percent to £149.7 million.

Total funds under management surged 6 percent to £21.3 billion.

Charles Stanley Group lowered its dividend to 5 pence per share, versus 12.25 pence per share in 2014.

"The past year has been one of substantial change for Charles Stanley. Whilst several of the underlying elements of the results give cause for encouragement, the overall result leaves significant room for improvement," Chief executive Paul Abberley said.