Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSLA.L Share News (SLA)

  • There is currently no data for SLA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Standard Life Aberdeen profits fall on lower fee income

Tue, 10th Mar 2020 07:18

(Sharecast News) - Asset manager Standard Life Aberdeen reported a fall in adjusted full year profits as revenues fell due to lower fee income.
Fee based revenue fell 13% to ?1.63bn, reflecting the impact of net outflows in 2018 and 2019. Underlying pre-tax profit, which stripped out one-off gains and losses from asset sales and write-downs, fell 10% to ?584m.

The company said the outlook for markets and the wealth management industry in 2020 was "turbulent" given the additional complexity of the coronavirus.

Net outflows outflows slowed to ?17.4bn from ?41bn, excluding a tranche of withdrawals from Lloyds Banking Group.

Operating expenses by 4% to ?1.3bn as the company continued to cut costs after the 2017 merger of Standard Life and Aberdeen Asset Management.

Chief executive Keith Skeoch said SLA was seeing growing momentum in the second half of the year across the business, with improved investment performance and flows.

"We remain on track to deliver targeted synergies and have identified more we can deliver as we continue to reshape the business and sustain resilience," he said.

"The outlook for the markets and our industry in 2020 is turbulent with the additional complexity of Covid-19. Importantly we are focused on what we can control, namely delivering for our clients, customers, colleagues and shareholders; diversifying our revenues; investing for the future and maintaining financial discipline."

More News
11 Feb 2021 21:22

PRESS: Standard Life Aberdeen In Talks To Sell Main Brand To Phoenix

PRESS: Standard Life Aberdeen In Talks To Sell Main Brand To Phoenix

Read more
11 Feb 2021 10:17

Polypipe Placing Raises GBP96 Million To Help Fund ADEY Buy

Polypipe Placing Raises GBP96 Million To Help Fund ADEY Buy

Read more
19 Jan 2021 09:38

UK BROKER RATINGS SUMMARY: Exane BNP Upgrades RELX To Neutral

UK BROKER RATINGS SUMMARY: Exane BNP Upgrades RELX To Neutral

Read more
6 Jan 2021 14:27

UK EXECUTIVE CHANGE SUMMARY: Martin Gilbert Joins River & Mercantile

UK EXECUTIVE CHANGE SUMMARY: Martin Gilbert Joins River & Mercantile

Read more
6 Jan 2021 09:40

UK BROKER RATINGS SUMMARY: Berenberg Raises Vodafone To Buy

UK BROKER RATINGS SUMMARY: Berenberg Raises Vodafone To Buy

Read more
17 Dec 2020 09:48

UK BROKER RATINGS SUMMARY: BofA Rates Rotork Buy, Weir Underperform

UK BROKER RATINGS SUMMARY: BofA Rates Rotork Buy, Weir Underperform

Read more
11 Dec 2020 09:38

UK BROKER RATINGS SUMMARY: JPMorgan Lowers NatWest To Neutral

UK BROKER RATINGS SUMMARY: JPMorgan Lowers NatWest To Neutral

Read more
9 Dec 2020 09:50

UK BROKER RATINGS SUMMARY: Citi Upgrades National Grid And 3i Group

UK BROKER RATINGS SUMMARY: Citi Upgrades National Grid And 3i Group

Read more
3 Dec 2020 09:08

Standard Life Aberdeen Nets GBP172 Million From HDFC Life Share Sale

Standard Life Aberdeen Nets GBP172 Million From HDFC Life Share Sale

Read more
3 Dec 2020 07:48

LONDON MARKET PRE-OPEN: Supermarkets Follow Tesco Move On Rates Relief

LONDON MARKET PRE-OPEN: Supermarkets Follow Tesco Move On Rates Relief

Read more
30 Nov 2020 12:44

PRESS: Standard Life Aberdeen To Sell IFA Platform Parmenion - Sky

PRESS: Standard Life Aberdeen To Sell IFA Platform Parmenion - Sky

Read more
30 Nov 2020 09:49

UK BROKER RATINGS SUMMARY: UBS Upgrades AstraZeneca To Neutral

UK BROKER RATINGS SUMMARY: UBS Upgrades AstraZeneca To Neutral

Read more
12 Nov 2020 16:29

Standard Life Aberdeen Stresses Need For Electronic Shareholder Meets

Standard Life Aberdeen Stresses Need For Electronic Shareholder Meets

Read more
3 Nov 2020 14:37

DIRECTOR DEALINGS: Standard Life Aberdeen Non-Exec Buys 25,000 Shares

DIRECTOR DEALINGS: Standard Life Aberdeen Non-Exec Buys 25,000 Shares

Read more
3 Nov 2020 09:38

UK BROKER RATINGS SUMMARY: Morgan Stanley Raises BP And Shell

UK BROKER RATINGS SUMMARY: Morgan Stanley Raises BP And Shell

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.