London-based asset management company Schroders (LON:SDR) released their quarterly earnings this morning, seeing profits climb 24% in the first half of the year on net inflows of £8.8 billion.
The company’s pre-tax profits rose to £290.3 million, up from £233.9 million over the same period last year. Revenue increased 11% to £806.2 million.
CEO Michael Dobson commented that “net inflows were particularly strong in fixed income and, regionally, in Asia Pacific and Continental Europe.”
Net revenue at the wealth management arm of the business rose 5% to £105.5 million, with pre-tax profit following the trend and rising 14%.
Their total assets under management also rose by 14%. On the back of the results, management lifted the dividend from 24p to 29p per share, and Schroders are currently trading up 1.53%.
