SJP shares set to gain on Asian growth

16 Apr 18

Growth in Asia and benefits from its purchase of a UK asset management firm could see shares in St James’s Place power ahead this year, according to analysts at UK stockbroker The Share Centre.

SJP shares set to gain on Asian growth

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The brokerage house said SJP’s recent purchase of offices in China and Hong Kong has boosted its position as an international business,

“The group is expected to benefit further from the growing middle class in Asia and the Rowan Dartington business may enhance its position at home,” said Graham Spooner, investment research analyst at The Share Centre

“The group is well positioned to benefit from the increased demand for financial advice on individual savings; this, combined with an expansion in business into Asian markets, offers investors a solid platform to capitalise from.

“We continue to recommend the shares as a ‘buy’ for investors willing to accept a medium risk.”

SJP’s latest set of full-year results, released in February,  showed funds under management rising 20.5% to £90.7bn, pre-tax profit up 32% to £186.1m and solid growth in cash flow. The company raised the final dividend by 33% giving a prospective dividend yield of 5.1% for the year.

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