Henderson Group plc (Henderson or the Group) published its Interim Results for the six months ended 30 June 2015 on 30 July 2015. The comments below refer to the period from 1 January to 30 June 2015 (the period) unless otherwise stated.
Financial highlights
Assets under management (AUM) at 30 June 2015 up 10% to £82.1bn (30 June 2014: £74.7bn)
Net inflows for the period of £5.6bn (30 June 2014: £5.0bn)
Underlying profit before tax from continuing operations up 29% to £117.4m (30 June 2014: £90.7m)
Underlying continuing diluted EPS of 8.9p (30 June 2014: 6.8p)
Capital surplus of £113m without recourse to the waiver from consolidated supervision
Interim dividend of 3.10p per share (30 June 2014: 2.60p per share)
Share buyback programme to be initiated in 2H15, with shares to the value of £25.0m to be purchased by year end.
Business update
Consistently strong investment performance: 83% of funds outperforming relevant metrics over three years as at 30 June 2015
Annualised net new money growth of 14% in the period (30 June 2014: 15%)
Sale of 40% stake in TH Real Estate in June 2015
Acquisitions of Perennial Fixed Interest, Perennial Growth Management and 90 West in Australia announced in June 2015.
Andrew Formica, Chief Executive of Henderson, said: "We are very pleased to have delivered another six months of record net inflows, built on consistently strong investment performance for our clients which highlights the strength of our active approach.
"During the period, we continued to deliver on our strategy and attracted inflows from an increasingly global client base and product line. The acquisitions of Perennial Fixed Interest, Perennial Growth Management and 90 West will accelerate the growth of our Australian business and firmly establish our presence in this important market.
"We remain relatively positive on the market outlook, but are conscious that lingering investor caution during the northern hemisphere summer could affect flows across the industry in the third quarter. Nevertheless, Henderson remains well positioned. With strong sales momentum, increased brand recognition, excellent investment performance and disciplined investment in new initiatives, we are focused on outperforming the market and delivering our ambitious plans for future growth."
