Schroders (SDR)

Sector:

Financials

Index:

FTSE 100

376.60p
   
  • Change Today:
      4.10p
  • 52 Week High: 485.70
  • 52 Week Low: 361.40
  • Currency: UK Pounds
  • Shares Issued: 282.50m
  • Volume: 1,760,958
  • Market Cap: £1,063.90m
  • RiskGrade: 108

Schroders confident despite fall in profits

By Josh White

Date: Thursday 02 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Asset manager Schroders reported a net operating revenue increase of 1% in its final results on Thursday, excluding performance-related fees, to £2.32bn.
The FTSE 100 company said operating profit was "robust" at £723m, down 14% year-on-year, amid challenging market conditions and lower performance fees.

Its statutory pre-tax profit of £586.9m was down 23%, having been impacted by mark-to-market movements on balance sheet items and acquisition-related costs, including amortisation.

The firm's three-year investment performance key performance indicator remained strong, with 73% of assets outperforming.

Schroders Capital, the company's private assets business, achieved record fundraising of £17.5bn in the year.

Additionally, the wealth management advice businesses delivered strong organic growth of 6.6%.

Net new business remained "resilient" at -£1.6bn, excluding joint ventures and associates, given a volatile fourth quarter.

The company reported a positive start to 2023, particularly in Schroders Solutions.

Schroders' board has recommended a final dividend of 15p per share, making for a total dividend of 21.5p per share for 2022, up marginally from 21.4p.

"The market challenges of 2022 provided a stress test for our strategy," said group chief executive officer Peter Harrison.

"I am encouraged by our resilient performance and that our strategy is working.

"The businesses we have been building in recent years - across wealth management, private assets and solutions - performed strongly."

Harrison said they were all playing an "increasingly important part" in the firm's growth, and now represented 53% of assets under management.

"Schroders Capital, our private assets business, had a record year with £17.5bn of fundraising, with particular strength in real estate and private equity.

"Despite the market dynamics, our wealth management advice businesses had a good year, delivering strong organic growth of 6.6%, while we also continued to build scale in Schroders Solutions.

"Our strength more broadly is underpinned by our approach to sustainability."

Schroders was an early investor in environment, social and governance (ESG), Peter Harrison said, alongside the technology that underpins its capabilities in the area.

"This has proven to be the right decision and we will continue to invest in 2023 and beyond.

"2023 has started positively, particularly in Schroders Solutions.

"We are confident about our trajectory - our clients require broad, actively-managed solutions and we have built the capability to meet that need."

At 0928 GMT, shares in Schroders were down 3.26% at 483.9p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Schroders Market Data

Currency UK Pounds
Share Price 376.60p
Change Today 4.10p
% Change 1.10 %
52 Week High 485.70
52 Week Low 361.40
Volume 1,760,958
Shares Issued 282.50m
Market Cap £1,063.90m
RiskGrade 108

Schroders Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.88% above the market average97.88% above the market average97.88% above the market average97.88% above the market average97.88% above the market average
88.57% above the sector average88.57% above the sector average88.57% above the sector average88.57% above the sector average88.57% above the sector average
Price Trend
40.69% below the market average40.69% below the market average40.69% below the market average40.69% below the market average40.69% below the market average
24.14% below the sector average24.14% below the sector average24.14% below the sector average24.14% below the sector average24.14% below the sector average
Income
73.23% above the market average73.23% above the market average73.23% above the market average73.23% above the market average73.23% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Growth
92.91% below the market average92.91% below the market average92.91% below the market average92.91% below the market average92.91% below the market average
86.92% below the sector average86.92% below the sector average86.92% below the sector average86.92% below the sector average86.92% below the sector average

What The Brokers Say

Strong Buy 0
Buy 2
Neutral 8
Sell 4
Strong Sell 0
Total 14
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Schroders Dividends

  Latest Previous
  Final Interim
Ex-Div 21-Mar-24 17-Aug-23
Paid 02-May-24 21-Sep-23
Amount 15.00p 6.50p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 1,344,136 @ 376.60p
16:35 4,762 @ 376.60p
16:35 860 @ 376.60p
16:35 2,540 @ 376.60p
16:35 25 @ 376.60p

Schroders Key Personnel

CFO Richard Oldfield

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