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Aberdeen Asset Management pre-tax profit up 20% to GBP605.2m


Aberdeen Asset Management’s pre-tax profit increased to GBP184.5 million from GBP168.7 million during the six months to the end of March 2015, as revenue rose 20 per cent GBP605/2 million.

The growth comes on back of Aberdeen’s acquisition of Scottish Widows Investment Partnership, which it completed a year ago.

Aberdeen's assets under management totalled GBP330.6 billion during the period, compared with GBP324.5 billion a year earlier it added.

Stripping out exceptional items and costs, pretax profit rose 25 per cent to GBP270.2 million the company says.

Martin Gilbert, Chief Executive, says. "Gross new business inflows have continued to grow. However, they have been offset by outflows, which reflect changes in asset allocation driven by macro-economic factors and some structural outflows from certain clients. Despite these headwinds we are well positioned for the long term.”

Aberdeen, which manages assets for both institutional and retail clients, is to pay an interim dividend of 7.5 pence per share, compared with 6.75 pence a year earlier.

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