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Aberdeen Asset Management increases its 2014 full year dividend by 12.5%

Investment Tools Ltd.
Aberdeen Asset Management increases its 2014 full year dividend by 12.5%

Highlights

Net revenue 4% higher at £1,117.6 million (2013: £1,078.5 million)

Underlying profit before tax increased by 2% to £490.3 million (2013: £482.7 million)

4% decrease in underlying diluted earnings per share to 31.1p (2013: 32.5p)

Final dividend of 11.25p per share (2013: 10.0p), making 18.0p for the full year (2013: 16.0p)

Cash increased by 53% to £653.9 million (2013: £426.6 million)

Assets under management (AuM) increased by 62% to £324.4 billion (2013: £200.4 billion) following acquisition of SWIP

 

 

2014

2013

Net revenue

£1,117.6m

£1,078.5m

Underlying results: before amortisation and acquisition-related items

 

 

Profit before tax

£490.3m

£482.7m

Diluted earnings per share

31.1p

32.5p

Statutory results

 

 

Profit before tax

£354.6m

£390.3m

Diluted earnings per share

22.8p

26.2p

Total dividend per share

18.0p

16.0p

Gross new business

£34.7bn

£43.9bn

Net new business

(£20.4bn)

(£2.5bn)

Assets under management at the year end

£324.4bn

£200.4bn

Martin Gilbert, Chief Executive of Aberdeen Asset Management commented:

"We have delivered robust performance this year in a more challenging environment, underpinned by our long-term track record and also our transformational acquisition of SWIP, which has diversified the Group. The first half of the year was particularly demanding, as investor sentiment turned sharply against emerging market economies. Recently, however, we have seen those concerns abate and outflows from our Asian and emerging market funds have moderated.

"The integration of SWIP is proceeding on schedule and is already beginning to deliver cost synergies ahead of expectations. The acquisition has also made us a more balanced and diverse business and more easily able to ride out the ebb and flow of investor sentiment in particular asset classes and geographies.

"Markets are likely to remain volatile given the uncertain economic and interest rate environment but our new financial year has started well with our broadened product range attracting interest from a range of clients. We will continue to apply our philosophy of long-term fundamental investing to meet the objectives of our clients."

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