LONDON (dpa-AFX) - Jupiter Fund Management Plc. (JUP.L) reported that its profit before taxation for the fiscal year 2018 decreased by 7% to 179.2 million pounds from last year's 192.9 million pounds. This was driven to a large extent by the changes announced in 2017 for the cessation of box profits and the recognition of research costs which created a headwind of £17.9m, which was partially mitigated by strong performance fee receipts, offset by losses on seed investments.
Profit for the year was 143.0 million pounds, down from 154.8 million pounds in the previous year.
Earning per share was 31.1 pence compared with 33.7 pence in 2017.
Net revenue for the year was 412.7 million pounds, down from 409.5 million pounds last year.
The Board has declared a full-year ordinary dividend for the year of 9.2 pence per share (2017: 10.3 pence) per share. This results in a total ordinary dividend for the year of 17.1 pence per share (2017: 17.1 pence per share), maintaining the ordinary dividend at last year's level, representing an ordinary dividend pay-out ratio of 54% of earnings. Due to the current high level of political and regulatory uncertainty, the Board has decided to retain 10% of earnings (2017: 5%), declaring a special dividend of 11.4p (2017: 15.5p) per share.
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