29th Jul 2026 10:48
(Alliance News) - Shares in Aberdeen Group PLC on Wednesday came under pressure as net flows were worse than expected in the first half of 2026, overshadowing a modest operating profit beat.
The Edinburgh-based wealth and asset manager said IFRS pretax profit rose 1.8% to GBP276 million in the half year ended June 30 from GBP271 million a year before.
Adjusted operating profit increased 21% to GBP151 million from GBP125 million, ahead of GBP145 million company-compiled consensus.
But net outflows in the period of GBP3.0 billion were far worse than the GBP800 million inflows expected by consensus. This includes GBP2 billion Institutional & Retail Wealth liquidity net outflows.
In response, shares in Aberdeen were down 5.3% to 235.40 pence each in London on Wednesday, the worse performer in the FTSE 100 index, which was up 0.1%.
Investor platform interactive investor saw record net inflows of GBP6.8 billion, but Aberdeen's Adviser business posted outflows of GBP1.3 billion and its Investment unit GBP5.6 billion outflows.
Chief Executive Jason Windsor called it a "dynamic" market and said he sees substantial headroom for further growth across the business.
Aberdeen said it is confident in the delivery of 2026 targets of adjusted operating profit of at least GBP300 million and net capital generation of GBP300 million.
In 2025, Aberdeen posted adjusted operating profit of GBP264 million and net capital generation of GBP239 million.
Beyond 2026, it is targeting growth in net capital generation of 5% to 10% per annum over the medium term, absent any major market irregularities.
The dividend was left unchanged at 7.3 pence per share.
By Jeremy Cutler, Alliance News reporter
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