In its annual report and monetary assertion for the interval, the corporate posted an working revenue of £4.1m, down from £9.1m the yr prior – round a 55% drop.
Somerset Capital Administration funds search new residence as agency set to shut following SJP redemptions
Internet earnings suffered an analogous fall, from £6.5m to £3m, whereas turnover dropped from £23.5m to £16.6m final yr.
Somerset Capital revealed it might be winding down the enterprise in December 2023, after St James’s Place determined to sever ties with the agency, leading to a lack of greater than 70% of its belongings, from $3.5bn to $1bn.
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