LONDON (dpa-AFX) - Asset management firm Schroders plc (SDRC.L, SDR.L) Thursday posted 33 percent growth in its pre-tax profit for the half year, reflecting strong investment performance and organic growth initiatives.
The Group's profit before tax rose by 33 percent to 373.9 million pounds, and basic earnings per share grew by 37 percent to 107.7 pence. Excluding exceptional items, profit before tax increased 33 percent to 407.5 million pounds, and basic earnings per share rose by 38 percent to 118.5 pence.
The Group's net income for the first half grew 24 percent to 1.24 billion pounds.
The Group's AuM, including joint ventures and associates, rose by 6 percent to 700.4 billion pounds. Excluding joint ventures and associates, AuM increased by 5 percent to 602.4 billion pounds.
Given the strong performance of the business, the Group said its Board has recommended an interim dividend of 37 pence per share, which represents a 6 percent increase.
Copyright RTT News/dpa-AFX