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Standard Life Aberdeen Slips To Loss In H1; Maintains Dividend

Standard Life Aberdeen plc (SLA.L) reported Friday that its first-half IFRS loss before tax was 498 million pounds, compared to prior year's profit of 629 million pounds.

The results reflected impairment charges relating to goodwill and intangible assets, partly offset by gains on sales of Indian investments including HDFC Life and HDFC Asset Management.

Loss per share was 22.7 pence, compared to profit of 26.0 pence a year ago.

Adjusted profit before tax was 195 million pounds, compared to 280 million pounds last year, reflecting lower revenue.

Fee based revenue declined 13 percent to 706 million pounds from 815 million pounds a year ago.

Further, the company announced interim dividend of 7.3 pence per share, same as last year.

Assets under management and administration or AUMA was 511.8 billion pounds after LBG tranche withdrawals, down from 579.4 billion pounds last year.

Looking ahead, the company said, "While revenue outlook remains challenging for the industry, we continue to focus on what we can control. We will continue to diversify our revenue and reshape our cost base to ensure it is future fit."

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