Business
Group Audited Results for year ended 31 March 2018
Group Audited Results for year ended 31 March 2018.
About this update from Polar Capital Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 3131S Polar Capital Holdings PLC 25 June 2018 \n\nPOLAR CAPITAL HOLDINGS plc\nGroup Audited Results for the year ended 31 March 2018\n \nHighlights\n• Assets under Management ('AUM') at 31 March 2018 £12.0bn (2017: £9.3bn)\n• Core operating profit† excluding performance fees £27.8m (2017: £20.9m)\n• Profit before share-based payments on preference shares† of £46.4m (2017: £23.6m)\n• Pre-tax profit £41.3m (2017: £20.4m)\n• Basic earnings per share 36.4p (2017: 17.8p) and adjusted† diluted earnings per share 36.6p (2017: 20.4p)\n• Dividends for the year 28.0p per share (2017: 25.0p) including a second interim dividend of 22.0p (2017: 19.5p) per ordinary share to be paid on 27 July 2018 to shareholders on the register on 6 July 2018\n• Shareholders' funds £87.7m (2017: £70.7m) including net cash of £87.9m (2017: £58.5m)\n• We added the Automation and Artificial Intelligence Fund to our fund range in October 2017. This fund raised over £156m on its launch and has assets of over £242m at the end of May 2018\n• Current AUM as at 31 May 2018 £13.4bn\n† The non-GAAP alternative performance measures shown here are described in the notes and reconciled to IFRS measures in the Financial Review\n \nGavin Rochussen, Chief Executive Officer, commented:\n\"I would like to thank my predecessor, Tim Woolley, who was not only CEO but also a co-founder of the Company. He successfully navigated this niche active fund management boutique through challenging times following the financial crisis and has handed over a sound Company with a strong culture and compelling business model. It is comforting that the majority of our strategies have performed ahead of benchmark in the more volatile markets experienced in the first quarter of 2018. While there remains geopolitical tension and the finalisation of Brexit terms cast a shadow, we are well positioned as fundamental research-driven, active fund managers to find opportunities globally and to continue to deliver above average returns for our clients.\"\n \n\n\n\n\nFor further information pl...