11th Feb 2016 07:40
LONDON (Alliance News) - Henderson Group PLC said Thursday it will "review" its short-term plans if the tough market conditions seen in the opening weeks of 2016 continue, as the asset manager reported strong net inflows, higher assets under management, and improved profit in 2015.
"The first few weeks of 2016 have been challenging for investors and our clients, with a wide range of economic and geo-political risks weighing on markets. We will review our short-term plans if difficult market conditions persist, but remain focused on our long-term goals to grow and globalise our business," Chief Executive Andrew Formica said.
Assets under management rose to GBP92.0 billion at the end of December from GBP81.2 billion a year earlier, as net inflows of money from clients swelled to GBP8.5 billion from GBP7.1 billion.
Underlying pretax profit from continuing operations rose to GBP220.0 million in 2015, versus GBP187.8 million in 2014.
Henderson increased its full-year dividend to 10.30 pence from 9.00p.
According to company-provided consensus figures compiled in November and based on estimates from 13 analysts, Henderson was expected to report an underlying pretax profit from continuing operations of GBP221.0 million for 2015. Analysts expected Henderson's dividend to rise to 10.3p. Assets under management were forecast by analysts to rise to GBP89.3 billion.
So Henderson's underlying profit figure missed expectations slightly, its dividend was as expected, and its assets under management beat forecasts.
"Our active investment management capabilities delivered excellent returns for our clients in difficult market conditions, and we achieved record net inflows and underlying profits. Our organic growth initiatives are making good progress, with encouraging performance from new investment teams and AUM growth in all regions, notably the US, Continental Europe and Latin America. We accelerated our growth plans in Australia with three acquisitions in the course of the year," Formica said.
Pretax profit from total operations rose to GBP167.9 million from GBP283.4 million.
By Samuel Agini; [email protected]; @samuelagini
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