Strong net inflows and positive markets boost Quilter interim profit

Quilter PLC on Wednesday posted a ‘solid’ interim financial performance, driven largely by strong net inflows and positive markets.

The London-based wealth manager said attributable pretax profit multiplied to £62 million for the six months that ended June 30 from £18 million a year earlier.

Assets under management & administration rose 12% to £123.4 billion on June 30 from £110.6 billion a year before, reflecting net inflows, coupled with a positive contribution from market movements. AuMA was up 6% since December 31.

Net inflows more than doubled to £4.3 billion from £1.5 billion as gross flows rose 27% to £9.5 billion from £7.5 billion.

Total income declined 24% to £2.56 billion from £3.38 billion, due to lower investment revenue generated on shareholder funds, partly offsetting higher management fee revenue.

Quilter declared an interim dividend of 2.0 pence, up 18% from 1.7p.

Both basic earnings per share and headline EPS multiplied to 3.4p from 1.0p.

‘I’m pleased with our start to 2025,’ Chief Executive Officer Steven Levin said, adding: ‘Flow momentum remains excellent with our affluent and high net worth segments both outperforming their market peers for level of inflows and growth as a percentage of opening assets.

‘Our business has built on the momentum of the last two years, is in great shape and is continuing to deliver on the growth opportunities ahead.’

Shares in Quilter were down 2.1% to 159.30p in London on Wednesday morning. They were down 2.3% to R 37.92 in Johannesburg.

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