viewAberdeen Asset Management

Aberdeen Asset boosted by chirpier markets



Fund manager Aberdeen Asset Management (LON:ADN) reported better than expected profits in the first half of the year as investor confidence returned for risk assets.

Underlying pre-tax profit increased 14 per cent to £162.2 million, well ahead of the consensus forecasts for flat pre-tax profits of £143 million.

Martin Gilbert, Aberdeen's chief executive, said: "Global economic conditions remain uncertain and any recovery is still tentative."

Revenue increased seven per cent over the to £413.1 million. The company said investor appetite for risk assets was stimulated by recovering global financial markets during the period.

Gilbert added: “We are encouraged by the strong start to the current financial year but, as we have already seen during the first few weeks of April, global markets remain susceptible to periodic bouts of volatility.” 

Gross new business inflow was down to £18.2 billion, from £23 billion a year ago, but outflows were also down by a simlar amount to leave net outflows over the six months at £0.4 billion.


Quick facts: Aberdeen Asset Management

Price: - -

Market: LSE
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Iofina PLC's Tom Becker updates on Organic Vines investment and IO#8...

Iofina PLC's (LON:IOF) Tom Becker speaks to Proactive London's Andrew Scott soon after announcing their investment in Organic Vines - a hemp seed production and genetics firm. Becker says they're anticipating to turn a profit of US$1.8mln by mid-2020. He also updates on the construction of...

15 hours, 35 minutes ago

2 min read