Quilter records year-on-year profits rise

Comes despite heavy reduction in IFRS profit tax for H1 2021 when compared with 2020

Investment Week
clock • 1 min read
Quilter records year-on-year profits rise

Profits have risen at Quilter year-on-year, with the group recording £85m in adjusted profit before tax, up 20% from H1 2020's £71m, however international financial reporting standards (IFRS) profit after tax was heavily reduced compared to the previous period.

In H1 2020, the wealth manager retained 61% of its profits after tax, recording £43m in IFRS profit after tax, however in the first half of 2021, just 24% of total profits survived to the after tax...

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