Business
Half Yearly Report
Half Yearly Report.
About this update from Ashmore Group Plc
[{"type":"text","content":"\n \nRNS Number : 7190O Ashmore Group PLC 11 February 2016 \n\nAshmore Group plc\n11 February 2016\n\nUNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDING 31 DECEMBER 2015\n\nAshmore Group plc (Ashmore, the Group), the specialist Emerging Markets asset manager, today announces its unaudited interim results for the six months ending 31 December 2015.\n\nOverview\n- Assets under management (AuM) of US$49.4 billion at 31 December 2015 (30 June 2015: US$58.9 billion)\n - Better flows and performance in Q2\n - High margin, long-term capital raised in alternatives theme\n- Opportunities to add risk where prices have fallen unjustifiably, based on fundamentals\n - Investment performance reflects the cycle: 55% outperforming benchmarks over one year, 14% over three years and 64% over five years\n- Net revenues declined 29% to £116.4 million\n - Net management fees of £98.7 million declined 26%, in line with lower average AuM (-25%)\n - Performance fees of £8.6 million\n - Smaller FX translation gains\n- Cost flexibility demonstrated: operating costs reduced by 16% to £46.3 million\n- Adjusted EBITDA of £68.0 million (H1 2014/15: £96.3 million)\n - Margin maintained at a high level of 63%\n- Diluted EPS 6.5p (H1 2014/15: 11.5p)\n- Good cash generation (£56.9 million from operations) and strong balance sheet\n- Interim DPS of 4.55p to be paid on 1 April 2016 (H1 2014/15: 4.55p)\n\nCommenting on the Group's results, Mark Coombs, Chief Executive Officer, Ashmore Group said:\n\"Notwithstanding the effects that weak...