Commenting on the 2012 full year results Chief Executive, Andrew Formica said:
"Political and economic uncertainty and the resultant market volatility during 2012 created a challenging sales environment for Henderson. Nonetheless, we remained focused on delivering excellent returns and service to our clients and I am pleased with the continued delivery of strong investment performance. We have maintained our rigorous cost discipline and as a result, the financial strength of the business has continued to improve, clearly visible in our balance sheet as we start 2013 in a net cash position.
By simplifying and streamlining some parts of our business we were also able to make a number of investments which will result in Henderson being a more global business with stronger investment and distribution capabilities. Given all we achieved in 2012, and how we have positioned the business for the year ahead, I am confident about our outlook."
2012 full year results
Key financial highlights
Underlying profit before tax £146.5m
Operating margin at 36.0%
Compensation ratio at 41.1%
Strong investment performance over three years; 69% of funds meet or exceed benchmarks
AUM increased to £65.6bn at 31 December 2012
Diluted underlying EPS at 11.7p
Board recommending final dividend of 5.05 pence per share; 2% increase in total dividend
