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(Sharecast News) - St James's Place reported adjusted IFRS pre-tax profit of 278.4m for the first half on Wednesday, down from 307.0m a year earlier, as the impact of its new charging structure offset strong growth in funds under management.
Net inflows were 2.7bn, compared with 3.8bn a year earlier, while gross inflows were unchanged at 10.5bn.
Funds under management rose to a record 240.8bn from 220.0bn at the end of 2025, supported by positive investment returns and improved retention of 95.4%.
IFRS profit after tax increased to 310.8m from 279.5m, helped by a 110.4m release from its ongoing service evidence provision.
The FTSE 100 wealth manager maintained its interim dividend at 6.0p per share and announced 128.1m of share buybacks, including 82.8m linked to the provision release.
"I am pleased to report a strong set of results for the first half of 2026," said chief executive Mark FitzPatrick.
At 0921 BST, shares in St James's Place were down 2.4% at 1,059p.
Reporting by Josh White for Sharecast.com.
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