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Prices & Quotes - UK Markets - Intermediate Capital Group (ICP)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 1,661.00p
Change Today:
7.00p
Market Cap:
4,886.40m
Sector:
Financial Services

Intermediate Capital AuM up 11% in first half

By Michele Maatouk

Date: Tuesday 19 Nov 2019

LONDON (ShareCast) - (Sharecast News) - Asset manager Intermediate Capital Group posted a rise in first-half assets under management on Tuesday as its diversification strategy continues to bear fruit.
In the six months to the end of September, AuM increased 11% to €41.1bn, with €4.6bn of new money raised across 14 strategies. Group pre-tax profit on an IFRS basis was up 24% during the half to 153.4m.

Earnings per share ticked up to 50.8p from 43.6p and the interim dividend was lifted 50% to 15p a share.

Pre-tax profits at the fund management company grew 32% to 85m while the investment company saw profits rise 15% to 68.4m.

ICG noted that since it set its fund management company operating margin target of above 43% early last year, a number of existing fund strategies have raised larger funds, increasing fund management company profits. As a result, the group has decided to increase its target to more than 50%, "to reflect the maturing of existing strategies while maintaining capacity to invest in new fund strategies that will underpin the continued long-term growth of the group".

Chief executive officer Benoit Durteste said: "These strong results demonstrate our ability to attract assets to a broad range of new fund strategies that are adjacent to our existing portfolios. Our diversification has resulted in continued healthy fundraising results and the 32% growth in fund management company profits.

"We are well-positioned to deliver sustainable growth. Unlike traditional asset managers, we do not suffer short term outflows as a consequence of the movement in financial markets; we are maintaining or increasing average fee rates on an underlying fund basis. Our long fund life-cycles are designed to withstand economic cycles. This is underpinned by a disciplined attitude to the deployment of funds and proactive approach to realisations."

At 0955 GMT, the shares were up 6.4% at 1,590p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

ICP Market Data

Currency UK Pounds
Price 1,661.00p
Change Today 7.00p
52 Week High 1,877.00p
52 Week Low 559.50p
Volume 1,182,696
Shares Issued 294.18m
Market Cap 4,886.40m

Performance Indicators

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What The Brokers Say

Strong Buy 8
Buy 1
Neutral 0
Sell 0
Strong Sell 1
Total 10
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ICP Dividends

  Latest Previous
  Interim Final
Ex-Div 10-Dec-20 18-Jun-20
Paid 08-Jan-21 05-Aug-20
Amount 17.00p 35.80p

Trades for 27-Nov-2020

Time Volume / Share Price
16:46 1,009 @ 1,661.28p
16:46 23,991 @ 1,661.28p
16:35 728,671 @ 1,661.00p
16:29 29 @ 1,663.00p
16:29 5 @ 1,664.00p

ICP Key Personnel

CEO Benoit Durteste
Chair Davies of Abersoch