| Aberdeen profit up, at 25.7 million pounds |
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LONDON: Aberdeen Asset Management Plc. has posted pre-tax profits of 25.7 million pounds for the year ended 30 September 2005, up from 15.1 million pounds in the previous year beating market forecasts of 25 million pounds.
The company said its increased fund flows and a buoyant equity market helped it achieve this result.
Aberdeen had 3.6 billion pounds in fund inflows during the year, while the total assets under fund management stood at 59.7 billion pounds. This included 30 billion pounds from the U.K. operations of the recently Deutsche Asset Management.
The company is paying a final dividend of 1.584 pence per share, bringing the total payout for the year to 3 pence, an increase of 16.5 per cent over the previous year.
Aberdeen's chief executive Martin Gilbert said the year has been extremely rewarding in terms of new business gains and the Deutsche Asset Management acquisition.
"We have ... strengthened the balance sheet and virtually eliminated gearing as well as improving our core operating margins," he said.
Aberdeen shares gained 4.53 per cent to reach 138 pence a share.
Posted
on : Mon, 05 Dec 2005 16:15 GMT | General News
By : Mike Lawson
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