UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS TO 31 DECEMBER 2012
Ashmore Group plc, the specialist Emerging Markets asset manager, today announces its unaudited interim results for the six months ended 31 December 2012.
Highlights
• Assets under management ("AuM") at 31 December of US$71.0 billion an increase of 11% during the period
• Continued net inflows US$1.6 billion with US$1.0 billion in Q2
• Net management fees of £148.2 million (H1 2011/12: £151.4 million)
• Performance fees of £15.3 million (H1 2011/12: £23.0 million)
• EBITDA of £114.1 million (H1 2011/12: £127.2 million)
• EBITDA margin stable at 70% (H1 2011/12: 70%)
• Profit before tax of £120.2 million (H1 2011/12: £129.8 million)
• Basic earnings per share of 13.94p (H1 2011/12: 13.83p)
• An interim dividend of 4.35p per share will be paid on 12 April 2013 (H1 2011/12: 4.25p)
Commenting on the results, Mark Coombs, Chief Executive Officer, Ashmore Group plc, said:
"The Group has delivered a satisfactory financial performance for the six months to 31 December 2012, with an industry-leading EBITDA margin of 70%. Assets under management increased by 11% to US$71.0bn as a result of net inflows and positive investment performance.
"As anticipated, the decisions and investments we made in periods of heightened volatility over the past 18 months have resulted in strong investment performance. At 31 December 2012, 89% of AuM had outperformed relevant benchmarks over one year and 88% over three years.
"Political events, central bank intervention and continued anaemic growth of developed countries over the past six months have emphasised the inherent attractions of emerging markets. Ashmore's experienced investment team has a 20 year track record of investing successfully in these markets, and with a broad and diverse range of themes available to clients the Group is well positioned to benefit from rising demand for the attractive risk-adjusted returns available from emerging market assets."
