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BRIEF-Gam Holding FY net profit down 3 pct to CHF 134.3 mln
March 2, 2017 / 6:22 AM / 7 months ago

BRIEF-Gam Holding FY net profit down 3 pct to CHF 134.3 mln

March 2 (Reuters) - Gam Holding AG:

* 2016 underlying pre-tax profit 120.1 million Swiss francs ($118.89 million)

* FY IFRS net profit at 134.3 million francs, 3 percent lower than in 2015

* FY net management fees and commissions at 470.5 million francs, down 9 percent from 2015

* FY underlying profit before taxes 39 percent lower than in 2015, largely due to significantly lower performance fees

* Proposed dividend of 0.65 francs per share, unchanged from previous year

* Group assets under management of 120.7 billion francs at end-December, up 1 percent from Dec. 31, 2015

* In a period of five to eight years sees to increase diluted underlying earnings per share in excess of 10 percent on annualised basis and achieving an operating margin of 35-40 percent

* Board of Directors intends to put in place a new share buy-back programme after the current programme expires on April 28, 2017 Source text for Eikon: Further company coverage: ($1 = 1.0102 Swiss francs) (Gdynia Newsroom)

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