Profit surges 54% at Aberdeen Asset

Date: Tuesday 03 May 2011

Fund manager Aberdeen Asset Management said assets under management grew to £181.2bn for six months to 31 March 2011 from £170.9bn while pre-tax profit surged 54%.

Underlying pre-tax profit rose to £142.8m while revenue increased to £385.9m from £294.9m the year before.

Commenting on the results CEO Martin Gilbert said, "These are very strong results reflecting continuing top line growth across profits, margins, revenue and assets under management. This combined with a healthy net cash position and strengthened balance sheet underscores the positive performance of the company over the last six months."

He added that demand for Aberdeen's established Asia Pacific, emerging market and global equities products has remained strong and there is a growing interest in some of its fixed income, property and alternative capabilities.

"Macro events in recent months have generated significant volatility in global markets and this looks set to continue. We are committed in our belief that our investment philosophy and process are well suited to such conditions," Gilbert said.

The board has decided to pay an interim dividend of 3.8p per share, up 19% on 2010's interim payment.

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CJ

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