LONDON (Reuters) – British asset manager abrdn reported a 47% rise in 2021 operating profit to 323 million pounds ($433.53 million), it said on Tuesday, helped by strong market performance and in line with analysts’ estimates.
Assets under management and administration rose 1% to 542 billion pounds.
Asset managers and insurers have been reporting healthy results, buoyed by government and central bank stimulus to combat the COVID-19 pandemic.
“We benefit from a strong capital position enabling us both to continue to invest in the business and return money to shareholders,” chief executive Stephen Bird said in a statement, though he added that “geopolitical risk and inflation are
rising”, pointing to uncertainty about the economic recovery.
Analysts in a company-supplied poll had forecast abrdn’s operating profit at 318 million pounds and AUMA of 537 billion pounds.
The fund manager suffered net outflows of 6.2 billion pounds, against a forecast 6.1 billion.
Abrdn said it would pay a full-year dividend of 14.6 pence per share, in line with forecasts.
($1 = 0.7450 pounds)
(Reporting by Carolyn Cohn; editing by John O’Donnell)
