M&G beats estimates for 1H profits and net client flows

by | Sep 20, 2023

(Sharecast News) – Global investment manager M&G posted stronger-than-expected interim profits and net client flows.
Pretax profits for the first half of its financial year came in at £75m with adjusted operating profits printing at £390m (consensus: £284m).

Assets under management and administration meanwhile came in at £332.8bn (consensus: £339bn).

However, client net inflows for the half, excluding Heritage, reached £700m (consensus: -£2.2bn).

Operating capital generation of £505m also beat analysts’ estimates for £328m.

As well, the 6.5p interim dividend per share declared by management was in line with analysts’ estimates.

The firm said it was on track to meet its 2024 operating capital generation target of £2.5bn and that it was making good progress on its 2025 financial targets.

— More to follow —

Related articles

Ryanair passenger numbers jump 9% in December

Ryanair passenger numbers jump 9% in December

(Sharecast News) - Budget airline Ryanair reported a 9% jump in December passenger numbers on Wednesday. Traffic rose to 12.54 million from 11.52m in the same month a year earlier, while the load factor - which gauges how full the planes are - ticked down to 91% from...

Wizz Are passenger numbers soar in December

Wizz Are passenger numbers soar in December

(Sharecast News) - Hungary-based budget airline Wizz Air reported a strong rise in December passenger numbers as demand continued to rebound from the Covid pandemic. The company on Wednesday said it carried 4,964,857 passengers, an 18.8% increase year on year. For the...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!