Smith & Williamson posts 3.6% income rise in interim statement

Smith & Williamson has released interim results for the first six months of the year, showing a 3.6% rise in operating income and a 6.3% hike in profits, despite what the firm called ‘a degree of external turbulence’

Ranked at number eight in the Accountancy league table of firms, Smith & Williamson reported group operating income of £134.8m (2017: £130.1m) for the six months to 31 October 2018.

Adjusted operating profit was £21.8m, compared to £20.5m in the comparative period in the prior year.

Kevin Stopps, co-chief executive at Smith & Williamson, said: ‘The first six months of the financial year have been characterised by a period of steady internal progress, accompanied by a degree of external turbulence.

‘We have delivered a robust set of results, reflecting continued growth and investment across the group, as we build on our longstanding position of strength and the breadth of our capabilities.’

‘We regard current market uncertainties as an opportunity for us to reinforce those relationships further, while guiding our clients through any difficulties and helping them to maximise their financial potential.’

Report by Pat Sweet

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