Profits rise at Aberdeen Asset Management

ProfitAberdeen Asset Management saw a 25% rise in profits in the six months until the end of March. The profit for the FTSE 100 manager headed by Martin Gilbert was £270.2 million (€366.9 million) and came on top of revenues of £605.2 million. Gilbert, chief executive of Aberdeen, said in a statement that Aberdeen had benefited from the diversifying effects of the acquisition of Scottish Widows Investment Partnership, which was completed a year ago. “We remain strongly cash generative and we again increased our dividend, whilst also adding to our regulatory capital headroom,” he added. Aberdeen is paying a dividend per share of 7.5p – an increase of 11%. Gross new business inflows grew but were offset by outflows, which reflect changes in asset allocation driven by macro-economic factors and some structural outflows from certain clients. The company has £330.6 billion of assets under management. ©2015 funds europe

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