WEALTH MANAGEMENT | Staff Reporter, Singapore

Aberdeen reduced bank borrowings by £150 million

Aberdeen Asset Management PLC reported underlying profit before tax of £92.6 million for six months to 31 March 2010.

Highlights of the company's report includes:
- Underlying earnings per share 6.05p (+149%)
- Operating margin 33.5% (2009: 19.8%)
- Net gearing reduced to 8.3% (30 September 2009: 17.2%)
- New business wins of £25.1 billion funded in the period, with £2.0 billion awarded but yet to fund

Bank borrowings, from £178.3 million as of 30 September 2009, were reduced via strong operating cashflow and proceeds of convertible bond issue.

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