In line with the Group's progressive dividend policy, the Board has declared an interim dividend of 21.0 pence (H1 FY19: 19.0 pence). This represents an increase of 10.5% compared to the previous period. The interim dividend will be paid on 24 April 2020 to shareholders on the register as at 27 March 2020.
Other financial highlights include:
Revenues up by 8.1% compared to H1 FY19 to £55.8 million driven by higher average Funds under Management ("FUM").
Underlying profit before tax up 28.6% to £11.7 million with a profit margin of 21.0% (H1 FY19: 17.6%), with improved underlying profit margin in all three divisions of UK Investment Management ("UKIM"), International, and Financial Planning ("FP").
Statutory profit before tax from continuing operations increased to £7.9 million (H1 FY19: £0.6 million), driven by the improved underlying performance and fewer adjustments in the period.
Underlying diluted earnings per share rose by 30.1% to 68.7p (H1 FY19: 52.8p).
Total FUM of £13.1 billion (30 June 2019: £13.1 billion, 31 December 2018: £11.7 billion) representing an increase of 12.0% on the prior year and a decrease of 0.4% in the six months to 31 December 2019.