24th Nov 2015 11:46
LONDON (Alliance News) - Record PLC, a specialist currency manager, on Tuesday said that pretax profit fell by 8% to GBP3.3 million in the first half of its last financial year against the corresponding period the prior year, as revenue rose by 3.2% to GBP10.4 million and administrative expenses rose by 8.8% to GBP7.1 million.
Record increased its interim dividend to 0.825 pence from 0.75p.
Assets under management equivalents dropped to USD53.3 billion at the end of September from USD55.4 billion at the end of March.
"The market environment over the six-month period has presented challenges in volatility, and in the performance of some of our strategies. Despite this, and in part helped by some of these challenges, we remain engaged with a wide range of potential clients, across diverse locations and product strategies," Chief Executive James Wood-Collins said in a statement.
All of the group's management and staff are working hard to convert this engagement into new mandates, and we are optimistic about further progress in the current financial year," Wood-Collins said.
Shares in Record were up 0.5% at 29.40 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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