Rathbone Brothers sees 30 per cent 2011 profit rise

The figures, included in a preliminary statement of annual results for 2011, also show basic earnings per share of 66.7p - up 34 per cent on the 49.7p for 2010.

Within the business, Rathbone Investment Management saw net operating income of £135.1m for the year, which is a 13 per cent increase on the £119.8m figure for 2010.

Meanwhile, the company said Rathbone Unit Trust Management (Rutm) saw positive net monthly sales throughout 2011, helping its funds under management to increase by 5 per cent to £1.09bn at 31 December 2011 - up from £1.04bn for 2010.

Profit before tax at Rutm was £0.8m for the year, up from £0.5m in 2010.

Andy Pomfret, chief executive, said the strong numbers had been achieved “in spite of often difficult market conditions”.

“Rathbones is cautiously optimistic about the prospects for 2012, with the UK equity market ending 2011 on a more positive note,” he said.

“There is no doubt that the uncertainties over Europe persist but these are balanced by indications that the world economy continues to grow and some developed economies are showing small signs of improvement, particularly the US.

“We are seeing signs of underlying cost inflation but we will continue to invest in and grow our business. We continue to be well positioned to take advantage of opportunities to welcome more investment managers and clients to Rathbones.”

Elsewhere, Rathbone Brothers said total funds under management were £15.8bn at December 31 2011, up 1.4 per cent from £15.6bn at the same time in 2010.

The board has recommended a 29p final dividend for 2011 (2010: 28p), making a total of 46p for the year (2010: 44p).