Source - Alliance News

Jupiter Fund Management PLC on Thursday said it was confident in the future with a ‘strong underlying business’ as it reported adjusted profit growth.

The London-based fund manager said assets under management rose 4.0% to £52.2 billion as at December 31, from £50.2 billion a year prior.

Net revenue fell 7.2% to £368.8 million from £397.3 million.

Statutory profit in 2023 dived to £9.4 million from £58.0 million. This was due to a £76.2 million impairment on goodwill last year.

Underlying pretax profit jumped 36% to £105.2 million from £77.6 million.

The company proposed a final dividend of 3.4 pence per share, bringing the total to 9.8p, up 17% from 8.4p a year prior.

Chief Executive Officer Matthew Beesley said: ‘Our strong capital position means that we are well-placed to invest for the future. The market outlook continues to be uncertain but I am confident that we have a strong underlying business and a strategy that can deliver growth over the medium term.’

Jupiter Fund shares rose 6.9% to 87.65 pence each on Thursday morning in London.

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