Standard Life Aberdeen remains optimistic despite 2020 profit slump
Standard Life Aberdeen suffered a drop in profits in 2020, the fund manager announced today.
Operating profit fell 27 per cent to £219m last year, while adjusted pre-tax profit dropped 16 per cent to £487m.
The firm finished the year with a strong surplus capital position of £2.3bn, compared to £1.7bn in 2019, benefitting from Indian stake sales.
Standard Life Aberdeen is recommending a final dividend of 7.3p, bringing its total dividend for the year to 14.6p per share.
CEO Stephen Bird believes the company is on track to deliver its targets after building momentum in the second half of the year.
“Thanks to our strong capital position, we have strategic flexibility around how we grow these businesses and we have set out clear ambitions,” he said.
“At this reset point for this business, we have rebased to set firm foundations on which we can build something great. I’m excited about what’s to come.”