Markets

Jupiter Fund Management H1 Pre-tax Profit Down 50% - Quick Facts

(RTTNews) - Jupiter Fund Management Plc. (JUP.L) reported Wednesday that its first-half profit before tax fell 50 percent to 40.8 million pounds from last year's 81.4 million pounds. Basic earnings per share fell 57 percent to 6.5 pence from 15.1 pence a year ago.

Underlying profit before tax was 56.6 million pounds, compared to 88.8 million pounds a year ago. Underlying earnings per share declined to 10.0 pence from 15.7 pence last year.

Net management fees declined 12 percent to 161.4 million pounds from 182.9 million pounds in the prior-year period.

Assets under management fell 8 percent to 39.2 billion pounds from 45.9 billion pounds in the prior year.

Further, the company announced an interim dividend per share of 7.9 pence, the same as last year.

Looking ahead, Chief Executive Officer Andrew Formica said, "Jupiter continues to operate with a solid capital position, supporting the needs of its business and its dividend pay-out policy. This means we can approach the second half of the year with confidence as we focus on the full integration of Merian and meeting our strategic objectives."

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

Latest Markets Videos

RTTNews

Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More