(Alliance News) - Jupiter Fund Management PLC on Thursday said it was confident in the future with a "strong underlying business" as it reported adjusted profit growth.
The London-based fund manager said assets under management rose 4.0% to GBP52.2 billion as at December 31, from GBP50.2 billion a year prior.
Net revenue fell 7.2% to GBP368.8 million from GBP397.3 million.
Statutory profit in 2023 dived to GBP9.4 million from GBP58.0 million. This was due to a GBP76.2 million impairment on goodwill last year.
Underlying pretax profit jumped 36% to GBP105.2 million from GBP77.6 million.
The company proposed a final dividend of 3.4 pence per share, bringing the total to 9.8p, up 17% from 8.4p a year prior.
Chief Executive Officer Matthew Beesley said: "Our strong capital position means that we are well-placed to invest for the future. The market outlook continues to be uncertain but I am confident that we have a strong underlying business and a strategy that can deliver growth over the medium term."
Jupiter Fund shares rose 6.9% to 87.65 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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Jupiter Fund Management (JUP)