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Schroders says 1st-quarter asset management revenue rose 16 percent

Schroders says 1st-quarter asset management revenue rose 16 percent

Money manager Schroders PLC said Tuesday that first-quarter asset-management revenue rose 16 percent and profit at its private banking business more than doubled.
Asset-management revenue rose to 177.3 million pounds (US$353.9 million; euro259.7 million) in the three months through March 31 from 152.8 million pounds in the same period a year earlier, the company said in a statement.
Profit at the private equity business rose to 19.9 million pounds (US$39.7 million; euro29.1 million) from 7.2 million pounds in the equivalent period in 2006.
The company did not release overall net profit figures.
Schroders shares fell 1.1 percent to 1,281 pence (US$25.56; euro18.76) on the London Stock Exchange.


Updated : 2020-12-03 16:02 GMT+08:00