Schroders first-half profit rises 8%

Schroders PLC (SDR.LN) said Thursday that its first-half profit rose 8%, as the company reported an increase in net asset inflows.

The FTSE 100 asset manager said it made a pretax profit of 371.1 million pounds ($489.9 million) compared with GBP342.8 million for the year-earlier half. Excluding exceptional items, net income rose 11% to GBP1.09 billion.

Schroders said it received net inflows of GBP1.2 billion for the half, up from GBP800 million. At the end of the half its assets under management and administration stood at GBP449.4 billion, up from GBP447.0 billion at the end of 2017.

The company declared an interim dividend of 35 pence a share, up 3% from the prior year.

"Against a challenging backdrop we have delivered robust revenue growth through our strategy of focusing on new markets and by continuing to evolve our products and solutions," Chief Executive Peter Harrison said.

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