Profit before tax and exceptional items was up 23% to £361.5m in the first six months of 2017 and total assets under management and administration hit a high of £418.2bn, up from £343.8bn recorded at the same time last year.
The firm’s asset management arm remains the biggest source of profits and the results reveal profits before tax of £301m against profits of £36.4m in the wealth management division.
Following the bumper year for markets so far in 2017, chief executive Peter Harrison warned that market trends can be “volatile”, but was positive on the firm’s prospects.
“Underlying progress in all regions was encouraging and we are building out our capabilities in private assets. We are confident in our ability to continue identifying, and investing in, areas of future growth,” he said.
“Markets have remained buoyant in the first half of the year, but we remain cognisant that these trends can be volatile and that market returns are difficult to predict.
“Our diversified business model has proven that it is well placed to adapt to the changing landscape and to continue to create value for clients and shareholders over the long term.”
