Asset managers, Schroders, recorded a pre-tax profit of £644.7 million (€753.5 million) for 2016, an increase of 6% on the year before following a year in which 74% of assets continued to out-perform their benchmarks or peer groups over three years, with 85% of assets out-performing when measured over five years.
At the same time the company announced earnings per share before exceptional items were up 5%, to 186.3 pence (217.74¢), and they now have assets under management of £397.1 billion (€464.1 billion) and net inflows of £1.1 billion (€1.28 billion)
Schroders Group CEO, Peter Harrison, said he was pleased with the results.
“We have made good progress against our strategic objectives and see a number of future growth opportunities. Our diversified business model, a strong financial position and willingness to invest behind the business means we are well placed to take advantage of these opportunities, despite the challenges faced by the industry,” he said.
On the basis of these results, the Schroders board has has recommended a final dividend of 64 pence (74.8¢) per share, bringing the total dividend for the year to 93 pence (108¢) per share, an increase of 7%.
Image: Peter Harrison. Photo supplied.
