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Ashmore Group FY Pretax Profit Rises; Adj. Net Revenue Up 11% - Quick Facts

Ashmore Group plc (ASHM.L) said the Group has delivered strong results for the year on the back of 24% AuM growth and continued investment outperformance. Statutory profit before tax was 15% higher than in the prior year primarily as a result of the strong growth in net revenues and limited cost inflation.

For the year ending 30 June 2019, pretax profit was 219.9 million pounds compared to 191.3 million pounds, prior year. Earnings per share increased by 18 percent to 25.04 pence. Excluding the effects of foreign exchange translation, seed capital-related items and relevant tax, earnings per share increased by 15 percent to 23.4 pence.

Fiscal year net revenue increased by 14 percent to 314.3 million pounds driven by 17 percent growth in net management fee income and higher foreign exchange translation revenues partially offset by lower performance fees compared with the prior year. Adjusted net revenue, excluding foreign exchange translation, grew by 11 percent to 308.1 million pounds.

Assets under management (AuM) increased 24 percent to $91.8 billion. Average assets under management increased by 16 percent to $80.5 billion.

The Directors recommended a final dividend of 12.10 pence per share for the year ending 30 June 2019, which will be paid on 6 December 2019 to shareholders who are on the register on 1 November 2019.

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