Solid year for Brewin Dolphin

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Investment management company Brewin Dolphin has reported a 10% rise in income.

According to the group’s preliminary results for the year ending September30, total income rose from £240 million to £264 million, while total funds under management increased to £24 billion. Pre-tax proft, before special items, rose 1% to £39.6 million.

Darryn Richards, head of Brewin Dolphin’s Truro office, commented: “It has been a difficult year for the economy and the markets so we are very pleased to have done well in Cornwall and to have contributed to the group’s 10% increase in income.

“Both the team here and our clients have been stoic throughout and I am sure we will continue to be so as we go on growing the business in the year ahead.”

Brewin Dolphin executive chairman Jamie Matheson added: “Stock market sentiment remains fractious with the eurozone debt crisis and the possibility of another recession causing concern. However it is the Board’s belief that long-term equity will continue to have an important role in the wealth management market.

“We look to the future with cautious optimism.”