Aberdeen Group Plc (ABDN) Q2 2023 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.581 Good morning everyone and welcome to Aberdeen's 2023 half year results 00:00:05.581 -- 00:00:07.143 presentation. 00:00:07.143 -- 00:00:12.533 It's great to see those of you who have joined us here in our new offices in London 00:00:12.533 -- 00:00:16.079 and welcome also to those listening remotely. 00:00:16.079 -- 00:00:20.230 I'm delighted to have our executive leadership team with us. 00:00:20.230 -- 00:00:24.040 We'll be taking you through our strategy and progress. 00:00:24.040 -- 00:00:28.772 Ian Jenkins, our interim CFO, will take you through the financials and then we'll open 00:00:28.772 -- 00:00:31.148 up for questions. 00:00:31.148 -- 00:00:36.624 At our full year results in February, I described 2022 as one of the hardest 00:00:36.624 -- 00:00:41.779 investing years in living memory. Well, 2023 has 00:00:41.779 -- 00:00:43.524 been a continuation 00:00:43.524 -- 00:00:48.576 of those challenging markets. We're facing geopolitical risks, 00:00:48.576 -- 00:00:54.004 stubborn inflation, driving interest rate rises, emerging 00:00:54.004 -- 00:00:59.053 credit risk, and the evolving industry dynamics in traditional asset management, such 00:00:59.053 -- 00:01:04.101 as the continuing growth of passive and index investing, the democratization 00:01:04.101 -- 00:01:09.787 of technology and finance, and the rapid expansion of alternatives. 00:01:09.809 -- 00:01:15.657 Against this backdrop, we are focusing on the things we can control in building 00:01:15.657 -- 00:01:20.864 a stronger business model. Our first half results for 2023 00:01:20.864 -- 00:01:25.870 demonstrate the resilience that we built into the group. 00:01:25.870 -- 00:01:28.033 We've delivered a 4% 00:01:28.033 -- 00:01:33.400 increase in revenue and a 10% ...