LONDON (dpa-AFX) - Ashmore Group Plc (ASHM.L), an asset manager focused on emerging markets, reported Wednesday that its first-half profit before tax was 54 percent lower at 53.8 million pounds from last year's 116.0 million pounds.
Earnings per share declined 54 percent to 6.1 pence from 13.3 pence last year.
Adjusted earnings per share were 7.8 pence, compared to 10.4 pence a year ago.
Net revenue declined 20 percent to 110.3 million pounds from prior year's 138.5 million pounds, as a result of lower net management fees.
On an adjusted basis, excluding foreign exchange translation effects, net revenue fell 22 percent.
As of December 31, 2022, Assets under management or AuM were $57.2 billion, 11 percent lower over the period. Average AuM of $58.9 billion was 35 percent lower than the prior year.
Further, the company maintained interim dividend at 4.8 pence per share.
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