Reports

Pre-Tax Profits Rise At UK's Jupiter

Tom Burroughes Group Editor London 7 March 2012

Pre-Tax Profits Rise At UK's Jupiter

Jupiter Fund Management said its pre-tax profit in 2011 surged to £70.3 million from £42 million, although assets under management slipped to £22.8 billion at the end of December compared with £24.1 billion 12 months earlier.

The firm’s underlying earnings per share (on a non-GAAP basis) were 19.1 pence per share, up from 17.6 pence in 2010, London-listed Jupiter said in a statement today.

Net inflows slowed to £700 million in 2011, compared with £2.3 billion a year earlier.

"While financial assets have rallied sharply since the end of the year, the economic outlook remains uncertain. Markets are likely to remain volatile and fund flows subdued in the near term as a result,” said Edward Bonham-Carter, Jupiter’s chief executive.

 

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