ABERDEEN Asset Management has again beaten City expectations by posting a 15.2% rise in profits, but its shares dropped as the company declined to give details of any future cash return to shareholders.
ABERDEEN Asset Management has again beaten City expectations by posting a 15.2% rise in profits, but its shares dropped as the company declined to give details of any future cash return to shareholders.
CHALLENGES: Aberdeen Asset chief executive Martin Gilbert said it had been a difficult year in the markets.
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Tim Sharp City Editor
Aberdeen has been steadily building its cash reserves and in the past year more than doubled its cash holding to a net £266.4 million, compared to £127.5m a year ago.
Finance director Bill Rattray said that Aberdeen will meet new regulatory rules on cash holdings to be implemented from the New Year.
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