Tuesday May 6, 07:44 AM
Aberdeen Asset profit rises
LONDON (ShareCast) - Fund manager Aberdeen Asset Management (LSE: ADNP.L - news) said half year pre-tax profit before exceptional items
and amortisation of intangibles rose to £47.3m from £43.6m.In the six months to 31 March sales rose to £201.5m from £162.5m the year before. The group said it continued to see growth in revenues, underlying profits, cash flows and assets under management despite challenging markets. Chief Executive Martin Gilbert said he was, " extremely pleased with progress in the past half year in difficult market conditions." He added that the group was, "looking to improve efficiency and reduce group costs by at least £15m over the next year." In the group's interim statement Aberdeen also announced that it has agreed to buy Goodman Property Investors for an initial £89m. The acquisition will be funded through the issue of 65.1m new shares. Group assets under management increased 12.6% to £107.3bn since start of year.
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