By Elena Vardon
Abrdn is scheduled to report results for the first half of 2023 on Tuesday. Here is what you need to know:
OPERATING PROFIT FORECAST: The investment company is expected to post adjusted operating profit of 133 million pounds ($169.6 million) for the six months ended June 30, according to a company-compiled consensus based on up to 16 analysts’ forecasts. It posted a figure of GBP115 million in the same period the previous year. Higher net financing income and investment returns are seen driving the rise, Citi analysts wrote.
REVENUE FORECAST: Abrdn’s net operating revenue is seen rising to GBP719 million by the company-compiled consensus, from GBP696 million.
NET FLOWS FORECAST: Consensus estimates the FTSE 100 group will report net outflows of GBP2.6 billion for the half-year, bringing its assets under management and administration at the end of the period to GBP500 billion. A year prior, its assets under management and administration stood at GBP508.4 billion after GBP35.9 billion in net outflows over the first half of 2022.
WHAT TO WATCH:
–GROWTH OUTLOOK: Investor focus is expected to be on organic growth outlook across the group’s three businesses, Citi said in a note.
–SHARE BUYBACK: Citi and UBS analysts expect the group to launch an additional share buyback alongside its results, funded by the recent sale of its remaining stake in India’s HDFC Asset Management Co. UBS analysts see a GBP250 million program.
–DIVIDEND: Abrdn is expected to declare a flat interim dividend of 7.3 pence a share.
Write to Elena Vardon at [email protected]
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