LONDON (dpa-AFX) - Investment management firm Man Group plc (MNGPF.PK, MNGPY.PK, EMG.L) Wednesday reported a surge in its pre-tax profit for the first half, driven by strong investment performances.
On a statutory basis, the Group's profit before tax increased to $280 million from $55 million, and earnings per share surged to 15.8 cents from 2.6 cents last year.
While core earnings per share jumped 246 percent to 18.7 cents, core management fee earnings per share increased by 51 percent to 7.4 cents.
The Group's revenue for the half year rose to $718 million from $403 million a year ago.
Funds under Management were $135.3 billion as at June 31, 2021, with net inflows of $1.2 billion and positive FX translation and other movements of $1.0 billion. Investment performance during the period was a positive $9.5 billion versus a negative $5.4 billion last year.
Copyright RTT News/dpa-AFX
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