Asset management and Investment Company Brewin Dolphin have reported a fall in profits amidst a tough year and financial crunches, but the firm has shared that it is confident about the coming times.
Executive chairman Jamie Matheson has shared that although the markets had gone through "perhaps the most difficult times in living memory", shareholders of the company had "grounds for confidence in the fundamental strengths" of the firm.
"I am pleased to report that Brewin Dolphin has been able to sail a relatively steady course through some pretty rough seas. Current trading continues to be satisfactory although we should not assume that the economic woes of this country and the rest of the world are completely behind us", said Mr. Matheson.
For the complete year to September end, Brewin recorded a 12.7% drop in earnings to 32.1 Million Pounds, from last year's 36.8 Million Pounds recorded for the same time. Pre-tax profits also fell by nearly a third to 21.9 Million Pounds, from 32 Million Pounds.
Funds under the company's management, however, recorded a 9.6% growth to 20.5 Billion Pounds. Brewin is now hoping for better times ahead on the back of an improving economy and steadily improving assets.