In its half-year results published today (19 March), the asset manager said costs related to wage inflation and new hires “more than offset” its income growth, despite delivering net inflows of 9% annualised.
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Adjusted operating profit for the six months stood at £6.3m compared with £8.6m in the six months to 31 January 2023. The company explained adjusted operating profits is stated before the amortisation of intangible assets on acquisition, goodwill impairment, exceptional items and tax.
Total assets …
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