Schroders reports 41 per cent increase in profit in 2013
Schroders has reported an increase in profit before tax and exceptional items of 41 per cent to GBP507.8m in 2013 from GBP360m in 2012.
Profit before tax was up 24 per cent for the year to GBP447.5m (2012: GBP360.0m), while the company’s full-year dividend is up 35 per cent to 58.0 pence per share (2012: 43.0 pence).
Net inflows for the period totalled GBP7.9bn (2012: GBP9.4bn), with assets under management standing at GBP262.9bn (2012: GBP212.0bn).
Michael Dobson, chief executive, says: “2013 was a record year for Schroders, with profit before tax and exceptional items up 41 per cent to GBP507.8m and assets under management up 24 per cent to GBP262.9bn. The momentum across our business continued through the year with GBP2.4bn of net inflows in the fourth quarter. This strong performance was the result of our highly diversified business and focus on growth over the long term.
“Reflecting these results, the company’s strong financial position and our confidence in the opportunities for continued growth in the long term, the Board is recommending an increase in the final dividend of 40 per cent to 42.0 pence per share bringing the total dividend for the year to 58.0 pence per share (2012: 43.0 pence) an increase of 35 per cent.”
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