Jupiter Fund Management PLC (LSE:JUP) shares jumped 7% after it reported second-half profits that beat the average City forecast by 30% and it announced a higher dividend than expected.
Ne revenues of £188 million in the second half of the year were up 4% on the first half and 1% higher than consensus, though down 1% on the previous year.
With performance fees higher than expected and total costs lower, second half underlying profit before tax of £59 million was a lot higher than the analyst consensus.
The company announced an ordinary dividend of 3.4p which compared to 1.5p that analysts expected, bringing the full-year dividend to 9.8p.
Jupiter had already pre-announced its 2023 assets under management of £52.2 billion and full-year outflows of £2.2 billion.