St James’s Place share price: Group posts annual results
St James’s Place (LON:STJ) has this morning posted its annual results.
**Highlights from the company statement:**
The strong growth in new business and funds under management are reflected in the financial results in all measures. However, the results were negatively impacted by a significant £14.2 million increase in our levy to the Financial Services Compensation Scheme.
The figures also reflect our continued strategic investments including the SJP Academy, our Asian operations and our back office infrastructure development.
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The operating profit on a European Embedded Value (EEV) basis was £660.2 million (2014: £596.4 million) which reflects the above factors, together with a positive experience and operating assumption change.
The profit before shareholder tax, on an International Financial Reporting Standards (IFRS) basis of £151.3 million (2014: £182.9 million) was also impacted by the negative £21.7 million change in the movement of certain accounting intangible assets and liabilities. The underlying profit for the year was £163.7 million compared with £173.6 million for the prior year.
At the half year we increased the interim dividend by 20% and said it was our intention to increase the final dividend at a similar rate.
Consequently, and supported by the continued strong performance of the business, the Board has proposed a final dividend of 17.24p per share, up 20%, which brings the full year dividend to 27.96p per share, also up 20%.
The final dividend for 2015, subject to approval of shareholders at our AGM, will be paid on 13 May to shareholders on the register at the close of business on 8 April. As usual a Dividend Reinvestment Plan continues to be available for shareholders.
As of 07:16 GMT, Thursday, 25 February, St. James’s Place plc share price is 856.50p.