Business
Notice of Results - Full year results
Notice of Results - Full year results.
About this update from Icg Plc
[{"type":"text","content":"\n Notice of Results - Full year resultsICG delivers strong performance from new and existing strategiesIntermediate Capital Group plc (ICG) announces its final results for the year ended 31 March 2017.Operational highlightsTotal AUM up 10% to €23.8bn, with €4.0bn of new money raised; third party fee earning AUM up 19% to €18.7bn Fundraising performance driven by our newer diversifying strategies: Strategic Secondaries and Australian Senior Loans; our CLO programme; and a secondary transaction on Recovery Fund 2008 Fundraising pipeline healthy with a number of our larger strategies expected to be raising successor funds in the new financial year Fund investment is on track whilst maintaining investment discipline in a competitive market Fund returns benefiting from strong capital gains and robust portfolio performance Financial highlightsFund Management Company profits up 21% to £74.0m (2016: £61.2m), with third party fee income¹ up 27%Investment Company profits higher at £178.4m (2016: £97.6m)Group profit before tax of £252.4m (2016: £158.8m); Adjusted Group profit before tax¹ was £237.5m (2016: £175.6m)Earnings per share of 74.5p (2016: 41.9p); Fund Management Company 21.6p (2016: 16.8p) and Investment Company 52.9p (2016: 25.1p)Final ordinary dividend up 23% to 19.5 pence per share and new dividend policy announced Total ordinary dividends in the year up 17% to 27.0 pence per share, in addition to the £200m special dividend paid in August 2016Commenting on the results, Christophe Evain, CEO, said:\"As I prepare to stand down as CEO at our AGM in July, I am proud to report a particularly strong year of positive performance and successful delivery. With AUM at a record €23.8bn, and both fundraising and capital deployment on track, we have delivered well on our commitments to investors and shareholders alike.The market environment continues to be supportive of both our existing and new strategies and we see strong, ongoing demand from investors for diversified sources of higher yield, as well as attractive investment opportunities for our funds. We remain confident in our ability to innovate and pioneer new strategies, backed by our balance sheet capital and disciplined investment culture, as we have seen with our Strategic Secondaries strategy. The increasing diversity of our business...