Finance
UK's Quilter beats profit forecasts but outlines nearly $100 million review cost
Published by Global Banking & Finance Review®
Posted on March 5, 2025
1 min readLast updated: January 25, 2026
Quick Summary
Quilter beats profit forecasts with a 17% increase but faces $97 million in review costs due to regulatory scrutiny.
Quilter Surpasses Profit Forecasts, Faces $97M Review Costs
(Reuters) - British wealth manager Quilter on Wednesday beat estimates with a 17% higher profit for 2024 but said an ongoing review will cost the company 76 million pounds ($97 million).
The company has been reviewing its historical services provided to customers amid heightened regulatory scrutiny of charging by fund managers and quantified the remedial costs related to the review for the first time today.
The fund manager reported adjusted pre-tax profit of 196 million pounds for the year ended December 2024, above previous year's 167 million pounds. Analysts, on average, were expecting 188 million pounds, as per a company-compiled consensus.
Quilter reported its strongest quarter of the year in January, helped by a year of strong cash flows from its high-net-worth clients after worries of potential tax changes ahead of the October budget resulted in clients moving and disposing of their assets under their inheritance tax planning.
($1 = 0.7809 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Mrigank Dhaniwala)
Key Takeaways
- •Quilter's profit rose 17% in 2024, beating forecasts.
- •The company faces a $97 million review cost due to regulatory scrutiny.
- •Adjusted pre-tax profit was 196 million pounds for 2024.
- •Analysts expected 188 million pounds in profit.
- •Strong cash flows were driven by high-net-worth clients.
Frequently Asked Questions about UK's Quilter beats profit forecasts but outlines nearly $100 million review cost
1What is the main topic?
The main topic is Quilter's profit exceeding forecasts while incurring significant review costs due to regulatory scrutiny.
2How much did Quilter's profit increase?
Quilter's profit increased by 17% for the year 2024.
3What are the review costs faced by Quilter?
Quilter faces review costs of 76 million pounds, approximately $97 million.
