LONDON (dpa-AFX) - Ashmore Group plc (ASHM.L) said its fiscal year adjusted EBITDA fell by 12% from previous year as a result of the 9% fall in adjusted net revenue that was partially offset by the 2% reduction in adjusted operating costs. Assets under management or AuM, increased by 13% over the year to $94.4 billion. Reflecting the lower opening AuM level following the initial market reaction to the COVID-19 pandemic, average assets under management were broadly unchanged at $90.0 billion.
For the year ended 30 June 2021, profit before tax increased to 282.5 million pounds from 221.5 million pounds, last year, as a result of the strong mark-to-market gains delivered by the seed capital programme. Earnings per share was 34.23 pence compared to 25.68 pence. Adjusted EBITDA declined by 12% to 195.7 million pounds. Adjusted earnings per share fell by 11% to 23.3 pence.
Net revenue fell by 12% to 291.7 million pounds as a result of lower net management fee income partially offset by higher performance fees. On an adjusted basis, excluding foreign exchange translation effects, net revenue declined by 9% to 296.6 million pounds. Management fee income, net of distribution costs, declined by 14% to 270.9 million pounds.
The Directors have recommended a final dividend of 12.1 pence per share for the year ending 30 June 2021.
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