StockMarketWire.com - Wealth manager Ninety One posted a 39% rise in first-half profit and hiked its dividend after it enjoyed positive market conditions and welcomed fresh inflows into its funds.

Pre-tax profit for the six months through September increased to £132.1 million, up from £94.8 million year-on-year, as assets under management rose 18% to £140.0 billion.

Net inflows for the year amounted to £3.9 billion, compared to net outflows in the previous year of £0.3 billion.

The company declared an interim dividend of 6.9p per share, up 17% year-on-year.

'The combination of strategic clarity, disciplined execution, competitive investment performance, a motivated, stable team and a long-term approach to business continues to work well for Ninety One,' chief executive Hendrik du Toit said.

'While the supportive market conditions of this reporting period will not last indefinitely, we see substantial long-term growth opportunities ahead.'

'We will continue to invest in our people and our business so that we can deliver for our clients. This remains our formula for value creation.'





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