FX.co ★ Man Group H1 Profit, AuM Climb; Stock Up

Man Group Plc (MNGPF.PK, EMG.L), an investment management firm, announced on Friday a significant increase in its first-half profit after tax, rising to $164 million from the previous year's $83 million.

Earnings per share rose to 13.8 US cents, up from 6.8 US cents in the prior year.

The company reported a core profit before tax of $257 million, compared to $137 million last year. Core earnings per share increased to 17.1 US cents from 8.9 US cents a year earlier.

Revenue for the period saw a substantial rise, reaching $733 million compared to $506 million in the previous year. Core net revenue also saw an increase, amounting to $761 million, up from $513 million a year ago.

As of June 30, the firm's assets under management (AUM) stood at $178.2 billion, an improvement over the prior year's $151.7 billion.

Additionally, the Board has announced an interim dividend of 5.6 cents per share, consistent with last year's dividend. The record date for this dividend is August 9, with the payment scheduled for September 20.

In London, Man Group shares were trading at 258.40 pence, reflecting a 3.03 percent increase.