Business
Group Audited Results for year ended 31 March 2022
Group Audited Results for year ended 31 March 2022.
About this update from Polar Capital Holdings Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n POLAR CAPITAL HOLDINGS plc\n \n \n Group Audited Results for the year ended 31 March 2022\n \n \n \n \n \n \n \n \n \"Strong growth in core operating profit allows a 15% increase in total dividend\" Gavin Rochussen, CEO\n \n \n \n Highlights\n \n \n • Assets under Management (AuM) at 31 March 2022 up 6% to £22.1bn (2021: £20.9bn)\n \n \n •\n Average AuM for the year up 37% to £22.8bn (2021: £16.7bn)\n \n \n •\n Core operating profit† up 35% to £69.4m (2021: £51.5m)\n \n \n • Pre-tax profit down 18% to £62.1m (2021: £75.9m) due to lower contribution from performance fee profits compared to last year's near record high.\n \n \n • Basic earnings per share of 50.8p (2021: 67.2p) and adjusted diluted total earnings per share† down 10% to 56.0p (2021: 62.2p)\n \n \n • Second interim dividend of\n 32.0p\n per share (2021: 31.0p) bringing the total dividend for the year\n to 46.0p\n per share (2021: 40.0p), a\n 15\n % increase.\n The dividend payment date is 29 July 2022, with an ex-dividend date of 7 July 2022 and a record date of 8 July 2022.\n \n \n •\n On 30 September 2021, the Group launched the Polar Capital Smart Energy Fund which seeks to take advantage of companies at the forefront\n of the global transition towards a cleaner, more efficient and sustainable energy future.\n \n \n •\n On 30 September 2021, the Group launched the P\n olar Capital Smart Mobility Fund which seeks to invest in a portfolio of companies worldwide that support, through their technology solutions and services, the decarbonisation and\n transformation of the global transportation sector.\n \n \n \n †\n \n \n The non-GAAP alternative performance measures shown here are described and reconciled to IFRS measures in the Alternative Performance Measures (APM) section.\n \n \n \n \n \n \n Gavin Rochussen, Chief Executive Officer, commented:\n \n \n \"As we progressed through the second year of the pandemic our staff continued to operate effectively, partly remotely as guidance was altered, to service our clients and other stakeholders.\"\n \n \n \n \n \n \"Investment performance\n has been more challenging than the prior year when our portfolios benefited from\n \n \n many of the so called 'Covid-19 winners'. Over the two 'pandemic years' our fund performance has held up well.\"\n \n \n \n \n ...