Ashmore hails 'satisfactory' performance

Full year profit before tax at fund manager Ashmore took a small dip from the year before but came in ahead of market expectations.

Profit before tax of £243.2m for the year to the end of June was down 1% from the previous year's £245.9m the year before, but ahead of the £229.40m the market had been expecting.

Total net revenue was more or less in line with market forecasts at £333.3m; the market had been expecting an unchanged revenue figure of

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£333.8m.

Final assets under management of $63.7bn at 30th June 2012, represented a decrease of $2.1 bn (3%) from $65.8bn a year earlier.

More to follow ...

JH