Henderson group posts "successful" interim results thanks to strong investments
Investment management company Henderson Group reported a jump in profits for its full-year.
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Underlying profits before tax from continuing operations increased 13% to £187.8m, while net inflows rose 184% to £7.1bn.
Net new money growth from continuing operations also increased 11%, which Henderson said to be "well ahead of the industry".
However, profit before tax from total operations jumped 122% to £283.4m.
The results were driven by a strong investment performance during the year. Its European Equities market delivered "exceptional" performance during the second half of the year, but global equities suffered performance setbacks.
Henderson said it will recommend a final dividend of 6.4 p per share, up 12.5% from last year, as part of its 80th anniversary celebrations.
Chief executive Andrew Formica said: "Last year was very successful for Henderson. We delivered strong investment returns for our clients, our best ever year of inflows and record profits.
"As last year's results demonstrate, our business is becoming stronger across market cycles, and we look forward to continued growth in the years ahead."
Numis analysts said: "The statement all reads well and current trading appears to be good.
"However, following a very strong share price run (30%+ since the recent lows), the shares are beginning to look at the very least up with events and probably expensive in our view."
The broker placed its 'hold' recommendation and target price under review.
Shares were up 0.11% to 263.7p on Wednesday at 09:22.