LONDON (dpa-AFX) - Investment company abrdn PLC (SLFPY.PK, SLA.L), formerly Standard Life Aberdeen plc, reported Tuesday that its fiscal 2022 IFRS loss before tax was 615 million pounds, compared to prior year's profit of 1.12 billion pounds.
Loss per share was 26.8 pence, compared to earnings of 46.0 pence a year ago.
Adjusted earnings per share were 10.5 pence, compared to last year's 13.7 pence.
Net operating revenue dropped 4 percent to 1.46 billion pounds from 1.52 billion pounds a year ago.
Further, the company announced a final dividend of 7.3 pence, giving full year dividend of 14.6 pence, same as last year.
Separately, Abrdn announced that it has entered into an agreement to sell abrdn Capital, its discretionary fund management or DFM business, to LGT. The agreed purchase price to be paid at completion is 140 million pounds, subject to certain adjustments.
The sale is expected to complete in the second half of 2023, following satisfaction of certain conditions including receipt of customary regulatory approvals.
The sale involves the transfer of around 6.1 billion pounds in assets under management and approximately 140 employees.
The company said its Managed Portfolio Services business, which is currently part of the DFM business, is being retained.
abrdn also announced that Brian McBride will not seek re-election at the Company's Annual General Meeting on May 10 and will stand down from that date as a Non-Executive Director and as a member of the Remuneration Committee.
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