Business
Preliminary Results
Preliminary Results.
About this update from Polar Capital Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 0980K Polar Capital Holdings PLC 20 June 2014 \n \n\nPOLAR CAPITAL HOLDINGS plc\nPreliminary Group Audited Results for the year ended 31 March 2014\n \nFinancial Highlights\n· Net inflows every quarter over the financial year, despite turbulent markets, with Assets under Management (\"AUM\") at 31 March 2014 up 83% to US$13.2bn (2013: US$7.2bn)\n \n· Core operating profit excluding performance fees up 146% to £24.6m (2013: £10.0m)\n \n· Profit before share-based payments and amortisation of intangibles of £34.2m (2013: £16.8m)\n \n· Pre-tax profit £32.7m (2013: £15.3m)\n \n· Basic earnings per share up 106% to 30.78p (2013: 14.95p) and adjusted* diluted earnings per share up 97% to 29.04p (2013: 14.77p)\n \n· Dividends for the year 25.0p per share (2013: 13.0p) including a second interim dividend of 21.0p per ordinary share to be paid on 18 July 2014 to shareholders on the register on 4 July 2014\n \n· Shareholders' funds £74.2m (2013: £53.8m) including a strong cash position \n \n· The Global Financials Investment Trust was launched on 1 July 2013 raising £153m\n \nCurrent Trading \n After 15 quarters of net inflows, the first quarter of our current financial year has so far seen more challenging market conditions and resulted in net outflows of approximately $300m although currently our AUM is above the year end level.\n \n*Adjusted to exclude cost of share-based payments and intangible asset amortisation.\n\n\n\n\nFor further information please contact:\n\n\n\n\nPolar Capital +44 (0)20 7227 2700\nTim Woolley (CEO)\nJohn Mansell (CFO) \n \nCanaccord Genuity - Nomad and Broker +44 (0)20 7523 8000\nMartin Green\nCameron Duncan\n \nF T I Consulting &...