Edition:
United Kingdom

Schroders H1 pretax profit up 8 pct to 371.1 mln stg


Thursday, 26 Jul 2018 

July 26 (Reuters) - Schroders PLC ::H1 PRETAX PROFIT ROSE 8 PERCENT TO 371.1 MILLION STG.INTERIM DIVIDEND UP 3 PERCENT TO 35 PENCEPER SHARE.SAYS NET INFLOWS £1.2 BILLION (H1 2017: £0.8 BILLION).SAYS PROFIT BEFORE TAX UP 8% TO £371.1 MILLION (H1 2017: £342.8 MILLION).SAYS ASSETS UNDER MANAGEMENT AND ADMINISTRATION £449.4 BILLION (31 DECEMBER 2017: £447.0 BILLION).SAYS INTERIM DIVIDEND UP 3% TO 35.0 PENCE PER SHARE (INTERIM DIVIDEND 2017: 34.0 PENCE PER SHARE).SAYS NET INCOME BEFORE EXCEPTIONAL ITEMS UP 11% TO £1,086.1 MILLION (H1 2017: £974.4 MILLION.SAYS PROFIT BEFORE TAX AND EXCEPTIONAL ITEMS UP 10% TO £397.1 MILLION (H1 2017: £361.5 MILLION).SAYS AGAINST A CHALLENGING BACKDROP WE HAVE DELIVERED ROBUST REVENUE GROWTH THROUGH OUR STRATEGY OF FOCUSING ON NEW MARKETS AND BY CONTINUING TO EVOLVE OUR PRODUCTS AND SOLUTIONS..SAYS WEALTH MANAGEMENT HAS SEEN STRONG CLIENT DEMAND AND WE HAVE CONTINUED TO EXPAND OUR CAPABILITIES WITHIN PRIVATE ASSETS AND ALTERNATIVES, OFFSETTING INDUSTRY HEADWINDS IN OTHER AREAS.SAYS NET INFLOWS FROM INSTITUTIONAL CLIENTS WERE OFFSET BY REDEMPTIONS WITHIN INTERMEDIARY SALES CHANNEL.SAYS NET OPERATING REVENUE MARGIN BEFORE PERFORMANCE FEES AND CARRIED INTEREST STEADY AT 45 BASIS POINTS.SAYS INSTITUTIONAL SALES CHANNEL SAW STRONG DEMAND FROM CLIENTS IN NORTH AMERICA AND LATIN AMERICA, OFFSET BY OUTFLOWS IN CONTINENTAL EUROPE AND AUSTRALIA.