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Jupiter posts 4 pct rise in FY pretax profit, to pay special dividend
February 24, 2017 / 7:20 AM / 10 months ago

Jupiter posts 4 pct rise in FY pretax profit, to pay special dividend

LONDON, Feb 24 (Reuters) - Jupiter Fund Management on Friday posted a 4 percent rise in full-year pretax profit to 171.4 million pounds ($215.19 million), as an inflow of new money boosted its fee income.

The British firm said it had seen net inflows of 1 billion pounds in 2016, helping net management fees rise 10 percent to 330.2 million pounds.

However, Jupiter said operating costs were up 11.2 percent to 182 million pounds, and it expects costs to rise again in 2017 as it continues diversifying its products and expanding overseas, as well as meeting new regulations.

Jupiter said it would pay a full-year dividend of 10.2 pence per share to take the total ordinary dividend for the year to 14.7 pence a share, up 1 percent on 2015.

It also said it plans to pay a special dividend of 12.5p per share. ($1 = 0.7965 pounds) (Reporting by Simon Jessop; Editing by Rachel Armstrong)

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