25th Feb 2015 08:20
LONDON (Alliance News) - Henderson Group PLC Wednesday reported higher profits for its last financial year, bolstered by a rise in assets under management.
In a statement, the asset manager said it made a GBP187.8 million underlying pretax profit from continuing operations in 2014, compared with GBP165.5 million in the prior year. On a statutory basis, which includes discontinued operations and other items excluded by the underlying figures, pretax profit rose to GBP147.8 million from GBP20.1 million.
Assets under management rose by 8% to GBP81.2 billion in 2014, bolstered by an increase in net inflows to GBP7.1 billion from GBP2.5 billion.
The group increased its dividend to 9.00 pence per share from the 8.00 pence per share paid for 2013.
"We delivered strong investment returns for our clients, our best ever year of inflows and record profits," Chief Executive Andrew Formica said in a statement.
"We continued to invest in people and new systems, and we expanded our global reach, all of which significantly contributed to the progress we are making to grow and diversify our business."
Formica also said that Henderson's new financial year has started well, citing client demand for European assets. According to the group's statement, retail flows to February 20 are tracking ahead of the 2014 average.
"As last year's results demonstrate, our business is becoming stronger across market cycles, and we look forward to continued growth in the years ahead," he said.
Henderson shares were down 0.8% at 261.40 pence shortly after the open on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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