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Ashmore Group HY Pre-tax Profit Increases - Quick Facts

Ashmore Group plc (ASHM.L), a specialist Emerging Markets asset manager, reported that its profit before tax for the six months ended 31 December 2019 increased 42% to 132.4 million pounds from the prior year's 93.0 million pounds, reflecting the strong operational performance and gains delivered by the group's seed capital programme.

Profit attributable to equity holders of the parent for the period grew to 112.9 million pounds from 72.4 million pounds in the previous year. Earnings per share increased by 56% to 15.8 pence from the prior year's 10.1 pence, reflecting the operational performance, the positive contribution from seed capital investments and the lower effective tax rate.

On an adjusted basis, earnings per share rose 35% to 14.7 pence from 10.9 pence in the prior year.

Statutory net revenue for the period increased 16% to 176.8 million pounds from last year's 152.1 million pounds as a result of strong growth in net management fee income. On an adjusted basis, excluding foreign-exchange translation effects, net revenue increased 20% to 177.3 million pounds from the prior year.

As at 31 December 2019, assets under management were US$98.4 billion, an increase of US$6.6 billion during the six months and 28% higher than a year ago.

The company said its board has determined that an interim dividend of 4.80 pence per share will be paid on 30 March 2020 to all shareholders on the register on 6 March 2020, compared to 4.55 pence per share paid last year.

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