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Aberdeen Group, the investment manager, has posted a strong first half with its DIY platform, interactive investor, once again the stand out performer, delivering record net inflows.<\/p>\n
However, there was no news on a permanent chairman to replace acting chair and senior independent director Jonathan Asquith who assumed the role in April after Sir Douglas Flint stood down after the AGM. Daily Business<\/em> reported at the time that acandidate had been lined up but was forced to withdraw for personal reasons.<\/p>\n In a conference call, chief executive Jason Windsor said there had been \u201cconsiderable interest\u201d in the post and denied there was a problem finding the right candidate<\/p>\n Group adjusted operating profit increased by 21% to \u00a3151 million, driven by revenue growth and efficiency improvements. Net operating revenue rose 2% to \u00a3643m, while adjusted operating expenses fell by 2% to \u00a3492m.<\/p>\n IFRS profit before tax of \u00a3276m (H1 2025: \u00a3271m) includes gains of \u00a3100m (H1 2025: gains of \u00a3155m) from the change in fair value of our Standard Life plc stake and lower restructuring and corporate transaction expenses.<\/p>\n The Edinburgh-based company expressed confidence in achieving its 2026 targets, though the interim dividend remained unchanged at 7.3p. Assets under management and administration (AUMA) grew 4% to \u00a3579.4 billion.<\/p>\n Jason Windsor, chief executive, said: \u201cIn a dynamic market, the group produced a strong performance.\u201d<\/p>\n Interactive investor, based in Manchester where it has about 800 staff, saw customer numbers up by 14% to 525,000. <\/p>\n \u201cWith clear plans to further deepen customer engagement in a fast growing and attractive market, I am excited by the significant momentum we have in the UK D2C market,\u201d said Mr Windsor.<\/p>\n Adviser saw adjusted operating profit broadly stable on H1 last year at \u00a341m but he admitted there was more to do.<\/p>\n \u201cWe have made significant improvements to service, the proposition and client experience, however we have more work to do to achieve growth in flows,\u201d said Mr Windsor. \u201cRich Denning, the new CEO, is focused on actions to drive sustainable and profitable growth in the business.<\/p>\n In the Investments business, a focus on efficiency helped to drive a 9% increase in adjusted operating profit to \u00a338m and the group is seeing \u201cpositive momentum across a number of specialist areas which, together with a number of bolt-on acquisitions, will support future earnings growth.\u201d<\/p>\n Mr Windsor added: \u201cOur focus for the second half of the year is on delivering more for our customers and achieving the 2026 targets that we have set for the group. Looking ahead, we see substantial headroom for further growth across the business.\u201d<\/p>\n Nick Sherrard, managing director of Label Sessions, <\/strong>said: \u201cAberdeen has delivered against much of what leaders promised in March, with interactive investor continuing to be the stand-out performer. That answers some of the critics. But it doesn\u2019t answer the bigger question: what is this company now?<\/p>\n \u201cIs this an asset manager with a platform attached, or a wealth business carrying an asset manager? That\u2019s much less about branding and more about the company\u2019s overall proposition.<\/p>\n \u201cThere is a genuinely valuable company to build here. Delivering wealth, advice, and investing as one connected service requires Aberdeen to decide what it is. It can then begin to land that message with customers and markets alike, accepting what that means for the parts of the business that no longer fit.\u201d<\/p>\n Daily Business Bulletin<\/strong>:\u00a0Subscribe here for our morning bulletin of breaking news<\/em><\/p>\n \t <\/div>\n