LONDON Feb 23 British wealth manager Rathbone
Brothers said funds under management rose 17.1 percent
in 2016 to 34.2 billion pounds ($42.55 billion), boosted by
gains in the British stock market in the second half of the
However, the firm said in a statement on Thursday the
underlying rate of net organic growth was 2.9 percent, down from
3 percent a year earlier, although fee income of 184.8 million
pounds was up 14.5 percent year on year.
Underlying profit before tax, which excludes
acquisition-related costs, head office relocation costs and
charges in relation to client relationships and goodwill, was up
6.4 percent to 74.9 million pounds over the period, it said.
Rathbones said it would pay a final dividend of 36 pence for
2016 for a total of 57 pence for the year, up 3.6 percent.
($1 = 0.8037 pounds)
(Reporting by Simon Jessop; editing by Carolyn Cohn)