Unaudited interim results for the six months to 30 June 2006
22.09.2006
Highlights
- Net revenue up 52% to £59.7 million (2005 £39.3 million)
- Operating earnings up 90% to £30.5 million (2005 £16.0 million) (before taxation, interest, exceptional items, amortisation of intangibles and front-end fee deferral)
- Operating earnings per share up 90% to 10.1p (2005 5.3p) (before taxation, interest, exceptional items, amortisation of intangibles and front-end fee deferral)
- First half net UK retail sales up 40% to £712.0 million
- Net international retail sales up 181% to £180.3 million
- Assets under management up 7% over the six-month period to £18.0 billion
- Maiden interim dividend of 4p per share
- Expect total dividend of not less than 8p per share for the full year in the absence of unforeseen circumstances
Commenting today, John Duffield, Chairman, said:
"New Star has delivered a substantial advance in operating profits for the first half and is well on track to do so for the full year. We are confident of New Star's growth prospects over the short and medium term, subject to market conditions and investment performance, and believe that further scope remains to increase our operating margin. This confidence is reflected in the dividend forecast."
Enquiries:
Citigate Dewe Rogerson:
Anthony Carlisle (office) 020 7638 9571
(mobile) 07973 611888
For the full press release, please click here.
