Schroders’ profit before tax in 2013 rose 24% to hit £447.5 million compared to only £360 million at the same point last year.
If excluding exceptional items as well, profit before tax increased by a staggering 41% to £507.8 million. In addition, assets under management (AuM) rose to £262.9 billion, a 24% rise from the £212 billion in 2012.
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The wealth management division saw net revenue increase to £150 million; a 59% rise from 2012’s revenue of £94.4 million, and profit before tax and exceptional items was £34.3 million. The results were reinforced by Schroders acquisition of Cazenove Capital.
Michael Dobson, chief executive, said: "2013 was a record year for Schroders, with profit before tax and exceptional items up 41 per cent to £507.8 million and assets under management up 24 per cent to £262.9 billion. The momentum across our business continued through the year with £2.4 billion of net inflows in the fourth quarter. This strong performance was the result of our highly diversified business and focus on growth over the long term."
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