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Aberdeen falls despite 'excellent' performance, especially from Interactive Investor
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Aberdeen falls despite 'excellent' performance, especially from Interactive Investor Proactive uses images sourced from ShutterstockAberdeen Group PLC (LSE:ABDN) shares fell 6.4% to 232.8p despite first-half profit beating expectations, as investors focused on weaker fund flows.
Adjusted operating profit rose 21% to £151 million, ahead of the £145 million consensus forecast, while net revenue increased 2% to £643 million.
Excluding liquidity products, outflows were £1.0 billion.
Investments suffered £5.6 billion of outflows excluding liquidity products, including around £4 billion of lower-margin equity withdrawals.
Aberdeen maintained its full-year targets for adjusted operating profit of at least £300 million and net capital generation of around £300 million.