Financial highlights
Adjusted profit before tax for the half year ended 31 March 2015 increased by 9% to £33.0m (H1 2014: £30.4m), reflecting the growth in Discretionary Funds under Management to £26.2bn (28 September 2014: £24.0bn) and the benefits of ongoing control over operating costs. The adjusted profit before tax margin was 22.3% (H1 2014: 20.8%). Adjusted diluted earnings per share grew by 5% to 9.2p (H1 2014: 8.8p).
Profit before tax for the period was £37.9m (H1 2014: £22.0m) and includes a gain of £9.7m from the sale of the Group's holding in Euroclear plc. Statutory diluted earnings per share of 10.7p were 65% higher than the prior year (H1 2014: 6.5p).
The interim dividend has been increased by 0.10p to 3.75p per share (2014 interim: 3.65p per share) and will be paid on 26 June 2015.
