Redundancy costs batter Brewin - Business - Evening Standard
       

Redundancy costs batter Brewin

City stockbroker Brewin Dolphin today reported a 38% fall in profits after it was hit by £3.2 million in redundancy costs.

First-half profits fell from £21.8 million to £13.6 million as the financial crisis took its toll.

Brewin also stumped up redundancy pay to the 100 staff it has axed since the autumn, including 29 in London. Total managed funds fell to £16.3 billion at the end of March compared to 18.7 billion at the end of September 2008.

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