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Schroders sees profit rise 29 per cent in first half of 2013


Schroders has reported an increase in profit before tax and exceptional items for the half-year ended 30 June 2013 of 29 per cent to GBP228.0m, from GBP177.4m in the first half of 2012.

Profit before tax is up 25 per cent to GBP221.7m (H1 2012: GBP177.4m), while the interim dividend is up 23 per cent to 16.0 pence per share (interim dividend 2012: 13.0 pence per share).
Net inflows are up 67 per cent to GBP4.5bn (H1 2012: GBP2.7bn), and assets under management are up 21 per cent to GBP235.7bn (30 June 2012: GBP194.6bn).
Michael Dobson, Schroders chief executive, says: “We are pleased with these strong results and the overall performance of the firm, reflecting the benefits of our diverse, global business. Against a volatile background, we delivered competitive performance for clients, GBP4.5bn of net new business and a 29 per cent increase in profit.
“We are confident that the additions of Cazenove Capital in the UK and STW Fixed Income in the US will strengthen our offerings for clients and create value for shareholders.
“We continue to see good long-term growth prospects and this is reflected in the 23 per cent increase in our interim dividend.”

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