Business
Preliminary Results - Replace
Preliminary Results - Replace.
About this update from Polar Capital Holdings Plc
[{"type":"text","content":"\n RNS Number : 5001Y Polar Capital Holdings PLC 07 July 2008 \n \n\nThis announcement replaces the announcement released at 07.00 am on 4 July 2008 under RNS number 3115Y. The revised announcement restates the diluted and adjusted diluted earnings per share numbers for the years ended 31 March 2008 and 31 March 2007. This is due to a change in the number of ordinary shares used in the calculations. This announcement also includes the dividend dates for the Company's second interim dividend. All other details remain unchanged.\n \n\nPolar Capital Holdings Plc ('Polar Capital' or the 'Company'), the specialist asset management group, announces preliminary results \n\n'We believe that the good performance of a number of our funds positions them well for current and future marketing'\n\nFinancial Highlights\n\n\nAssets under management at 31 March 2008 down 8.8% at $3.1bn (March 2007: $3.4bn)\n\n\nCore operating profit, excluding performance fees, up over 110.0% to £6.0m (March 2007: £2.8m)\n\n\nPre tax profitability up 42.2% to £14.5m (March 2007:£10.2m)\n\n\nBasic earnings per share up 3.5% to 14.6p (March 2007:14.1p) and diluted earnings per share up 3.2% to 13.0p (March 2007:12.6p)\n\n\nAdjusted diluted earnings per share up 8.1% to 14.6p (March 2007: 13.5p), adjusted to exclude cost of share-based payments\n\n\nSecond interim dividend of 7.0p per share (March 2007: 5.5p per share) making a total distribution for the year of 8.5p per share (March 2007: 7.75p per share)\n\n\nIncrease in shareholders funds to £37.9m (March 2007: £32.6m) including cash and investments of £44.1m (March 2007: £35.3m).\n\n\nNew Business Units\n\n\nThe Polar Capital Global Healthcare Opportunities Fund was launched in December 2007, the top performing healthcare fund for the 5 months to May 2008 (Source: lipper)\n\n\n\nOutlook and Current AUM\n\n\nChallenging outlook presents opportunities for Polar Capital's uncorrelated and defensive sector strategies\n\n\nOpportunity to further diversify business with aim of adding one to two new business units each year \n\n\nC...