Brooks Macdonald Group (BRK)

Sector:

Financials

Index:

FTSE AIM 100

2,050.00p
   
  • Change Today:
      40.00p
  • 52 Week High: 2,160.00
  • 52 Week Low: 1,590.00
  • Currency: UK Pounds
  • Shares Issued: 16.47m
  • Volume: 3,490
  • Market Cap: £337.69m
  • RiskGrade: 164

Brooks Macdonald to axe 55 jobs in cost-cutting drive

By Michele Maatouk

Date: Tuesday 31 Oct 2023

LONDON (ShareCast) - (Sharecast News) - Investment manager Brooks Macdonald said on Tuesday that it plans to axe around 55 roles as it looks to cut costs.
The company said the organisational changes were designed to ensure it is "set up for success, organised to deliver its strategy and drive growth".

The move is expected to result in an annualised staff cost reduction of around £4m.

Brooks Macdonald said the cost of the changes is likely to be up to around £3m - a non-recurring expense which it intends to exclude from its reported underlying profit.

For FY24, the company still expects overall costs to grow in mid-single digits, in line with market expectations.

Chief executive Andrew Shepherd said: "As an ambitious business, we must respond to evolving market dynamics by taking difficult decisions that will regrettably affect some of our colleagues, but make the group stronger. Our guiding principles demand both that we tackle hard decisions head on, and that we care for and support our employees, and this will inform how we conduct the process.

"I am confident in the opportunity ahead of us thanks to the strength of relationships we have with intermediaries and clients, and the dedication and expertise of our people."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BRK Market Data

Currency UK Pounds
Share Price 2,050.00p
Change Today 40.00p
% Change 1.99 %
52 Week High 2,160.00
52 Week Low 1,590.00
Volume 3,490
Shares Issued 16.47m
Market Cap £337.69m
RiskGrade 164

BRK Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.79% above the market average4.79% above the market average4.79% above the market average4.79% above the market average4.79% above the market average
66.07% below the sector average66.07% below the sector average66.07% below the sector average66.07% below the sector average66.07% below the sector average
Price Trend
20.09% above the market average20.09% above the market average20.09% above the market average20.09% above the market average20.09% above the market average
8.62% above the sector average8.62% above the sector average8.62% above the sector average8.62% above the sector average8.62% above the sector average
Income
52.03% above the market average52.03% above the market average52.03% above the market average52.03% above the market average52.03% above the market average
26.47% below the sector average26.47% below the sector average26.47% below the sector average26.47% below the sector average26.47% below the sector average
Growth
68.18% below the market average68.18% below the market average68.18% below the market average68.18% below the market average68.18% below the market average
35.24% below the sector average35.24% below the sector average35.24% below the sector average35.24% below the sector average35.24% below the sector average

What The Brokers Say

Strong Buy 2
Buy 3
Neutral 1
Sell 1
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BRK Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Mar-24 21-Sep-23
Paid 16-Apr-24 03-Nov-23
Amount 29.00p 47.00p

Trades for 15-Jul-2024

Time Volume / Share Price
16:35 1 @ 2,050.00p
16:35 1 @ 2,050.00p
15:33 128 @ 2,004.82p
15:30 120 @ 2,025.00p
15:30 50 @ 2,025.00p

BRK Key Personnel

Chair Maarten Slendebroek

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