HENDERSON GROUP PLC 2012 INTERIM RESULTS
14 August 2012
Financial highlights
|
Amounts in £m unless otherwise stated |
6 months to 30 June 2012 Unaudited |
6 months to 30 June 2011 Unaudited |
12 months to 31 December 2011 Audited |
|
|
|
|
|
|
Underlying profit before tax |
79.0 |
86.4 |
159.2 |
|
Intangible amortisation, Gartmore related employee share awards and void property finance charge |
(33.5) |
(37.8) |
(77.0) |
|
Recurring profit before tax |
45.5 |
48.6 |
82.2 |
|
Non-recurring items |
- |
(51.7) |
(69.2) |
|
Profit/(loss) before tax |
45.5 |
(3.1) |
13.0 |
|
Tax on recurring profit |
0.9 |
(7.5) |
(14.2) |
|
Tax on non-recurring items |
- |
11.5 |
16.2 |
|
Non-recurring tax |
- |
12.9 |
18.9 |
|
Total tax |
0.9 |
16.9 |
20.9 |
|
Profit after tax |
46.4 |
13.8 |
33.9 |
|
|
|
|
|
|
Operating margin |
36.8% |
36.1% |
36.3% |
|
Assets under management (AUM) at period end |
£63.6bn |
£74.4bn |
£64.3bn |
|
Earnings per share (EPS) |
|
|
|
|
Basic |
6.9p |
7.6p |
13.2p |
|
Diluted |
6.6p |
7.1p |
12.4p |
|
Ordinary dividend per share |
2.1p |
1.95p |
7.0p |
Commenting on the 2012 interim results Chief Executive, Andrew Formica said:
"In a volatile time for all markets, these financial results are solid. On the positive side, profits and margins have held up; and, crucially for the long term, two-thirds of our funds have matched or beaten their benchmarks over three years. Against these encouraging achievements, we have seen net outflows across our business.
Reviewing this, and in line with our formula for the interim dividend, the Board has approved an increased payment of 2.1p per share.
Looking ahead, we continue to invest in our fund manager and distribution talent, review the number and variety of funds, and control costs across the business: measures all designed to provide high quality service for our clients and to maintain our financial strength."
