| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Ninety One profit rises 3% on positive market movements
StockMarketWire.com
|
Ninety One, the fund manager spun out of Investec, posted a 3% rise in annual profit underpinned by a boost in assets under management.
Pre-tax profit for the year through March increased to £204.1 million, up from £198.5 million year-on-year.
Assets under management rose 27% to £130.9 million, despite net outflows of £0.2 billion, thanks to positive market movements.
Ninety One declared a full-year dividend of 12.6p per share in its first full year as a listed company.
'The year was characterised by a resurgence in investment performance at Ninety One due to the discipline and professionalism of our investment teams,' chief executive Hendrik du Toit said.
'Flow momentum has improved in the second half and we enter the new financial year with a strong pipeline.'
'Nevertheless, we are disappointed that we have not achieved net inflows over the full reporting period.'
'We are acutely aware that the communities we serve continue to be heavily impacted by the consequences of the pandemic.'
'The pandemic has also accelerated change. The quest for sustainability has become central to our industry.'
'We applaud this and we are ready to play our role in the pursuit for a net zero world.'
'We believe that our purpose of investing for a better tomorrow is now more relevant than ever and we remain excited by the long-term growth opportunities for Ninety One.'
Story provided by StockMarketWire.com
|
|
|
|
|
|
