Quilter Falls After Interim Results as Higher Policyholder Tax Erodes Earnings
Quilter shares slid 4.5% today after the FTSE 250 wealth manager reported interim results for the six months ended June 30 that showed IFRS profit after tax of 45 million, down from 6 million a year earlier and below the consensus of approximately 1.6 million. Revenue rose 12% to 79 million, and client inflows were described as record-breaking;…