Analysts at JPMorgan said the cuts would lead to upgrades to the company’s future earnings potential and welcomed a “very strong” set of earnings, including net inflows of 1.9 billion pounds that beat analysts’ forecasts.
Its shares jumped as much as 25% in early trade to hit their highest in seven months and were up 20% by 0800 GMT, though they remain about 60% down on their January 2022 peak.
St James’s Place said it would cut costs by 80 million pounds by 2026 and aim to trim its overall costs by 100 million pounds a year by 2027.
Source: REUTER
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