Schroders first-half profit slides 10% as crisis bites
Reuters
Published Jul 30, 2020 07:37
Updated Jul 30, 2020 07:55
LONDON (Reuters) - British money manager Schroders (L:SDR) on Thursday posted a 10% fall in profit before tax and exceptional items in the first half of the year amid rising outflows in mutual funds.
The UK's largest-listed fund manager by market capitalisation reported 306.2 million pounds in profit before tax and exceptional items for the first half of the year, down from 340.4 million pounds in the same period last year.
Net operating revenue was down 2% to 971.6 million pounds while net income slipped 3% to just over 1 billion pounds.
Assets under management rose by 5% to a record high of 525.8 billion pounds, ahead of a company-compiled analyst consensus of 519.4 billion pounds.
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Written By: Reuters
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