6th Aug 2015 06:38
LONDON (Alliance News) - Old Mutual PLC on Thursday reported a 19% increase in adjusted operating profit for the first half of 2015, and increased its interim dividend by 8%.
The FTSE 100 Anglo-South African financial services company said its adjusted operating profit amounted to GBP904 million in the six months to the end of June, a 20% increase at constant currency. It increased its interim dividend to 2.65 pence from 2.45p.
Funds under management increased to GBP335.7 billion, up 5% on a reported basis and by 7% at constant currency.
Chief Executive Julian Roberts, who is making way for Bruce Hemphill, previously at Standard Bank, said it was an "exceptional" six months for Old Mutual.
"Last year, we reallocated significant capital to buy quality businesses in our core markets. This year is about ensuring that these investments are fully integrated and making the returns we expect. We have an absolute focus on achieving this, while being a responsible business," Roberts said in a statement.
"While we expect the next six months to be challenging for emerging markets, and exchange rate movements will likely temper sterling reported growth, I am confident that by remaining focused on meeting our customers' needs and improving the operating efficiencies of the business we will continue to make good progress," Roberts said.
By Samuel Agini; [email protected]; @samuelagini
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