abrdn PLC FY EPS 46.0p

By Michael Susin

Abrdn PLC said Tuesday that pretax profit for 2021 rose on the back of positive market movements and reduced net outflows, and maintained its total dividend payout.

The FTSE 100 investment company, previously known as Standard Life Aberdeen, posted a pretax profit for the year of 1.12 billion pounds ($1.50 billion) compared with a profit of GBP838 million a year earlier.

The company said adjusted operating profit--the company's preferred metric, which strips out exceptional and other one-off items--increased to GBP323 million from GBP219 million.

Fee-based revenue for the year rose to GBP1.52 billion from GBP1.43 billion for 2020, abrdn said.

Abrdn said assets under management and administration at the end of 2021 increased to GBP542 billion compared with GBP534.6 billion a year ago.

Total net outflows were GBP6.2 billion compared with net outflows of GBP29.0 billion, reflecting "positive market movements, [and] the impact of corporate actions and net flows", despite inflationary pressures.

"Markets are volatile right now. Geopolitical risk and inflation are rising and there remains an element of uncertainty about the pace at which different economies are recovering from the impacts of the Covid-19 pandemic. We benefit from a strong capital position enabling us both to continue to invest in the business and return money to shareholders," it said.

The board maintained the full-year dividend payout at 14.6 pence a share, unchanged from 2020.

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