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BRIEF-Fund manager Schroders says FY pretax profit up 5 pct
March 2, 2017 / 7:22 AM / 9 months ago

BRIEF-Fund manager Schroders says FY pretax profit up 5 pct

March 2 (Reuters) - British asset manager Schroders on Thursday posted a 5 percent rise in full-year pretax profit after market gains, client inflows and acquisitions helped boost total assets to a record high.

The company said full-year pretax profit was 618.1 million pounds ($758.41 million), up from 589 million pounds in 2015, helping underpin a final dividend of 64 pence per share, to take the total dividend for the year to 93 pence, up 7 percent on the year.

Schroders said assets under management and administration at year-end were 397.1 billion pounds, up 27 percent, helped by a 42 billion pound boost as a result of weakness in the value of sterling after Britain’s vote to leave the European Union.

Net inflows over the year were 1.1 billion pounds, as demand from institutional clients more than offset outflows from retail clients and wealth management. Acquisitions added a further 6.7 billion pounds. ($1 = 0.8150 pounds) (Reporting By Simon Jessop. Editing by Andrew MacAskill)

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