Fund manager Jupiter posts better-than-expected annual profit

Feb 22 (Reuters) - Jupiter Fund Management JUP.L reported better-than-expected full-year profit on Thursday, as a tight lid on costs and firm institutional client demand helped offset the impact of muted retail investor sentiment in the UK.

The company said profit rose to 105.2 million pounds ($133.1 million) in the year ended Dec. 31, from 77.6 million pounds last year. Analysts, on average, expected underlying profit before tax to be 91.5 million pounds, according to a company-compiled consensus.

"The market outlook continues to be uncertain but I am confident that we have a strong underlying business and a strategy that can deliver growth over the medium term," CEO Matthew Beesley said in a statement.

($1 = 0.7905 pounds)

(Reporting by Eva Mathews in Bengaluru; Editing by Eileen Soreng)

((Eva.Mathews@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.