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schroders plc-non voting (SHRRF) Key Developments

Schroders Announces Executive Changes

Schroders has named Geoff Blanning as new head of commodities, replacing Robert Howell who has stepped down to pursue other opportunities. Blanning has been serving as head of Schroders emerging markets debt, commodity and currency group for 15 years. In his new role, Blanning will be responsible for managing the $2.6 billion fund, which invests in oil, gold, natural gas, soft commodities and metals. Blanning will also continue to work with the two existing commodity fund managers, Rodolphe Roche and Paula Bujia.

Schroders Mulls Acquisitions

Schroders plc (LSE:SDR) is looking for acquisitions. Julie Dean of Schroders said, "It’s likely we’ll be taking some very handsome profits in cyclical companies and look to invest it in some of those more defensive companies where the valuations look more attractive".

Schroders plc Recommends Final Dividend, Payable on May 7, 2014; Reports Audited Consolidated Earnings Results for the Full Year Ended December 31, 2013; Provides Earnings Guidance for the Fiscal 2014

The board of directors of Schroders plc recommended an increase in the final dividend of 40% to 42.0 pence per share bringing the total dividend for the year to 58.0 pence per share compared with 43.0 pence for the same period a year ago, an increase of 35%. The final dividend will be paid on May 7, 2014 to shareholders on the register at March 28, 2014. The company reported audited consolidated earnings results for the full year ended December 31, 2013. For the year, revenue was GBP 1,809.1 million against GBP 1,425.4 million a year ago. Net revenue was GBP 1,407.6 million against GBP 1,134.9 million a year ago. Operating profit was GBP 429.8 million against GBP 343.7 million a year ago. Profit before tax was GBP 447.5 million against GBP 360.0 million a year ago. Profit after tax was GBP 352.7 million or 126.0 pence per basic and diluted share against GBP 283.2 million or 101.3 pence per basic and diluted share a year ago. Net cash from operating activities was GBP 204.1 million against GBP 489.2 million a year ago. Net acquisition of property, plant and equipment and intangible assets was GBP 25.8 million against GBP 12.8 million a year ago. Profit before tax and exceptional items was up 41% to GBP 507.8 million against GBP 360 million a year ago. Underlying value to the EPS, which is up 43% to 144.6 pence. That's in line with increase in profit before tax. Before exceptional items, operating profit of GBP 487.9 million. Profit after tax before exceptional items was GBP 404.8 million or 144.6 pence per diluted share for the fiscal 2013 against GBP 283.2 million or 101.3 pence per diluted share for the fiscal 2012. For 2014, the company is expecting non-compensation costs, including depreciation, of GBP 300 million for the full year. The GBP 300 million reflects the full year impact of STW and Cazenove acquisitions, plus additional IT expenditure. The effective rate of tax for 2013 is 20% before exceptional items. The company would expects it to remain around this level for 2014.

Foreign Funds Reportedly Acquire Stake In Bankia

Th foreign funds majorily acquired stake in offering of Bankia, S.A. (CATS:BKIA) held by Spanish government, a source familiar with the process said. Soros Fund Management was among the six biggest investment fund buyers of Bankia shares in last week's offering, according to a breakdown provided by a source familiar with the placement.Other major investors also included Banco Bilbao Vizcaya Argentaria, S.A. (CATS:BBVA), Banco Santander, S.A. (CATS:SAN), Schroders plc (LSE:SDR), Och-Ziff Capital Management Group LLC (NYSE:OZM), Citadel LLC, Henderson Global Investors Limited, Mainfirst Asset Management, Duet Asset Management Limited and Capital World Investors.

Schroders plc, 2013 Earnings Call, Mar 06, 2014

Schroders plc, 2013 Earnings Call, Mar 06, 2014

 

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