LONDON (dpa-AFX) - Man Group plc (EMG.L) said it expects pre-tax profit before adjusting items for the nine months ended 31 December 2011 to be $257 million. Statutory earnings per share is estimated to be 7.4 cents per share. Earnings per share before adjusting items on continuing operations is estimated to be 10.5 cents per share. Adjustments in the three months to December 31 relate to the amortisation of GLG acquisition intangibles and restructuring costs, the company noted. Peter Clarke, Chief Executive of Man, said, 'Trading conditions have been tough for Man in the second half of 2011. Investment performance varied significantly across styles, with market volatility and reduced market liquidity impacting trading opportunities. Although some of our funds performed strongly and sales held up well, we experienced a net outflow in the last two quarters, albeit with reduced redemptions in the final three months...' As previously announced, the Board expects to propose a final dividend for the three month period to 31 December 2011 of 7.0 cents per share, to give a maintained total dividend, pro-rated for the nine month period, of 16.5 cents per share.
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