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Rathbone Brothers FY pretax profit up 17.6 pct

Reuters - UK Focus

LONDON, Feb 22 (Reuters) - British wealth and investment manager Rathbone Brothers (LSE: RAT.L - news) on Thursday posted a 17.6 percent increase in pretax profit, boosted by record assets under management on the back of market gains and net inflows.

Pretax profit rose to 58.9 million pounds in the year to end-December, it said in a preliminary results statement, up from 50.1 million pounds in the prior-year period. Rathbones said the board recommended a final dividend of 39 pence.

Assets under management during the period hit a record 39.1 billion pounds, it said, up 14.3 percent over the year. (Reporting by Simon Jessop; editing by Carolyn Cohn)