The results compared to a £41.6m pre-tax profit for the first half of 2010.
However, the purchase substantially boosted Henderson’s assets under management to £74.4bn in the period, compared to £56.4bn in H1 2010.
Excluding the Gartmore purchase, adjusted pre-tax profit increased to £86.4m from £48.5m the year before and recurring profit before tax rose to £48.6m from £41.6m.
Profit after tax sunk to £13.8m from £33m but diluted earnings per share jumped to 7.1p from 4.5p last year.
“The first six months of this year have been busy for both the group and for markets. I am pleased that throughout this period we have produced a solid set of results with revenues increasing by 40%, underlying profit by 80% and EPS by 60%,” said chief executive Andrew Formica. “While the acquisition of Gartmore dominated our efforts in the first half, the Henderson business continued to perform well. The integration of Gartmore is exceeding our expectations.”
Looking at the recent turmoil in markets, Formica said the firm was managing the business on the assumption that conditions remain challenging in the short- to medium-term.
He believed the company was “better equipped” to weather the current volatility.
“We will invest selectively in our business to ensure that we deliver the best product and best service to our clients whilst we continue to manage our cost base actively,” Formica said.
