Investment group Aberdeen Asset Management has released interim results for the six months to 31 March (release). The firm saw pre-tax profits rise by 37 per cent to £222.8m. Chairman Roger Cornick commented on the results:
The six month period under review has generally replicated conditions experienced in 2012, with positive market performance for much of the first half year followed by volatility during early April. We are consequently measured in our outlook but confident that our investment philosophy and process will remain well suited to the pursuit of further profitable growth.
Chief executive Martin Gilbert said:
It has been a strong first half to the year with investors' appetite for risk assets returning. As a result we have seen healthy net new business flows which, combined with performance by global markets, has generated strong growth in our revenue and in profit margins. We remain cautious on the market outlook but believe our fundamental approach to investing will continue to serve our clients' long term needs.