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Prices & Quotes - UK Markets - Abrdn (ABDN)

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:
Down 237.80p
Change Today:
-5.20p
Market Cap:
5,186m
Sector:
Financial Services

Abrdn profit rises as outflows ease

By Sean Farrell

Date: Tuesday 10 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Abrdn posted a strong rise in first-half profit as revenue rose and outflows of funds eased at the rebranded investment manager.
Adjusted operating profit increased 52% to 160m in the six months to the end of June from a year earlier as fee-based revenue rose 7% to 755m.

The FTSE 100 group swung to a pretax profit of 113m from a loss of 498m and kept its interim dividend at 7.3p a share.

Profit was supported by flat costs as revenue rose. As a result the cost-income ratio improved to 79% from 85%.

Net outflows of funds reduced to 5.6bn. Excluding volatile liquidity flows, net outflows were 1.9bn - less than 10% of the low point in the second half of 2018. Assets under management were broadly flat at 532bn as reductions were partly offset by market gains.

The results were the former Standard Life Aberdeen's first under its new name of Abrdn following a rebrand in July that replaced five logos. Chief Executive Stephen Bird, who took over in September, has pledged to return the group to growth after a lacklustre period following the merger of Aberdeen and Standard Life in 2017.

Bird said: "We have made a strong start to the year and our three-year growth plan. Low interest rates and central bank interventions have created supportive market conditions from which we have benefited. Market volatility is expected to continue due to Covid-19 and its unequal effects in different parts of the world. We have made good progress in simplifying and focusing our business."

Abrdn shares rose 0.3% to 298.7p at 08:10 BST.

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

 

Abrdn Market Data

Currency UK Pounds
Price 237.80p
Change Today -5.20p
52 Week High 331.10p
52 Week Low 226.60p
Volume 4,486,698
Shares Issued 2,180.72m
Market Cap 5,186m

Performance Indicators

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Income
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Growth
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Dividend Yield
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EPS Growth
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Operating Margin
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What The Brokers Say

Strong Buy 6
Buy 0
Neutral 6
Sell 2
Strong Sell 2
Total 16
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Abrdn Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Aug-21 15-Apr-21
Paid 28-Sep-21 25-May-21
Amount 7.30p 7.30p

Trades for 21-Jan-2022

Time Volume / Share Price
16:38 3,140 @ 237.80p
16:35 1,860,924 @ 237.80p
16:29 255 @ 238.90p
16:29 95 @ 239.00p
16:29 107 @ 239.00p

Abrdn Key Personnel

Chair Douglas J Flint
CFO Stephanie Bruce
CEO Stephen Bird