Highlights
· Revenue £503.5 million (-2%)
· Underlying profit before tax £217.0 million (-3%)
· Underlying earnings per share 14.3p (-4%)
· Dividend per share 6.75p (+12.5%)
· Operating margin 43.0% (2013: 43.8%)
· AuM £324.5 billion
FINANCIAL HIGHLIGHTS
|
|
March 2014 |
March 2013 |
|
Revenue |
£503.5m |
£516.0m |
|
Pre-tax profit |
|
|
|
Before amortisation of intangibles & acquisition costs |
£217.0m |
£222.8m |
|
After amortisation of intangibles & acquisition costs |
£168.7m |
£188.2m |
|
Diluted earnings per share |
|
|
|
Before amortisation of intangibles & acquisition costs |
14.32p |
14.88p |
|
After amortisation of intangibles & acquisition costs |
10.67p |
12.43p |
|
Dividend per share |
6.75p |
6.00p |
|
Core operating cashflow |
£221.6m |
£221.2m |
|
Gross new business |
£14.3bn |
£24.6bn |
|
Net new business |
-£8.8bn |
+£4.4bn |
|
Assets under management at period end |
£324.5bn |
£212.3bn |
Martin Gilbert, Chief Executive of Aberdeen Asset Management, commented:
"Aberdeen has delivered a resilient set of numbers in this half year, given the difficult backdrop for emerging markets. Our disciplined investment approach, long-term investment track record and tradition of client service have enabled us to limit equity outflows whilst we have continued to win mandates in other asset classes, such as fixed income and property.
"There are signs of a pick-up in sentiment towards emerging economies, as investors are again identifying opportunities and recognising the fundamental strengths of these markets. Equally encouraging is the healthy improvement in the relative performance of our key equity products so far this year.
"At the end of March we were delighted to complete our acquisition of SWIP and the process of integrating the business is proceeding as planned. The deal adds scale and strengthens further our broad range of investment capabilities and confirms Aberdeen's position as one of the world's leading asset management groups."
