Deprecated: Function is_staging_site is deprecated since version 3.3.0! Use in_safe_mode instead. in /home/dubeshephard/public_html/wp-includes/functions.php on line 6078
Ninety One Reports 1% Rise in Earnings Per Share Despite 3% AUM Drop | Rateweb
Deprecated: Function is_staging_site is deprecated since version 3.3.0! Use in_safe_mode instead. in /home/dubeshephard/public_html/wp-includes/functions.php on line 6078

Ninety One Reports 1% Rise in Earnings Per Share Despite 3% AUM Drop

Ninety One plc and Ninety One Limited, dual-listed on the LSE and JSE, announced their financial results for the year ending March 31, 2024. Despite facing headwinds, the investment management firm demonstrated resilience with key financial metrics showing stability.

Key Highlights

The company recorded a 1% increase in basic earnings per share, reaching 18.4 pence. Adjusted earnings per share, however, decreased by 8% to 15.9 pence. The proposed final dividend is 6.4 pence per share, leading to a total annual dividend of 12.3 pence per share.

Financial Performance

Ninety One’s adjusted operating profit margin stood at 32.0%, slightly down from 32.7% the previous year. The firm’s profit before tax rose by 2%, from £212.6 million to £216.8 million. However, assets under management (AUM) saw a 3% decrease, falling to £126.0 billion. This decline in AUM was accompanied by net outflows totaling £9.4 billion, an improvement from the previous year’s outflows of £10.6 billion.

Financials at a Glance

Metric20242023Change (%)
Assets under Management (£bn)126.0129.3-3
Net Flows (£bn)(9.4)(10.6)11
Average Assets under Management (£bn)123.9134.9-8
Profit before Tax (£m)216.8212.62
Adjusted Operating Profit (£m)190.5206.9-8
Adjusted Operating Profit Margin (%)32.032.7n.m.
Basic Earnings per Share (p)18.418.21
Adjusted Earnings per Share (p)15.917.3-8
Dividend per Share (p)12.313.2-7

CEO’s Remarks

Hendrik du Toit, Founder and CEO, acknowledged the challenging business conditions. He noted that despite these challenges, Ninety One delivered robust financial results. Du Toit emphasized the firm’s focus on long-term growth, client service excellence, and competitive investment outcomes.

Dividend Announcement

The Board recommended a final gross dividend of 6.4 pence per share. The dividend will be paid on August 8, 2024, to shareholders on record as of July 19, 2024. For shareholders on the South African branch register, the dividend will be equivalent to 153.0 cents per share, considering the exchange rate of ZAR23.9211/GBP.

Dividend Payment Details

EventJSE DateLSE Date
Last Day to Trade Cum-DividendJuly 16, 2024July 17, 2024
Shares Commence Trading Ex-DividendJuly 17, 2024July 18, 2024
Record DateJuly 19, 2024July 19, 2024
Payment DateAugust 8, 2024August 8, 2024