Abrdn to Report H1 2023 Results

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Abrdn is set to announce its financial results for the first half of 2023 on Tuesday. Here are the key details:

Operating Profit Forecast

Analysts predict that the investment company will report an adjusted operating profit of £133 million ($169.6 million) for the six months ended June 30. This forecast is based on a consensus compiled by the company using up to 16 analysts’ estimates. In the same period last year, Abrdn reported a figure of £115 million. According to Citi analysts, the expected increase in operating profit can be attributed to higher net financing income and investment returns.

Revenue Forecast

The net operating revenue for Abrdn is anticipated to rise to £719 million, according to the company’s consensus compilation. In the previous year, the company recorded £696 million in net operating revenue.

Net Flows Forecast

Consensus estimates suggest that Abrdn will report net outflows of £2.6 billion for the first half of the year, resulting in total assets under management and administration at the end of the period reaching £500 billion. This is a decrease from the previous year when assets under management and administration stood at £508.4 billion after experiencing net outflows of £35.9 billion.

Key Points to Watch

  • Growth Outlook: Investors will be closely watching the organic growth outlook across Abrdn’s three businesses, according to Citi analysts.
  • Share Buyback: Analysts at Citi and UBS expect Abrdn to launch an additional share buyback program following the announcement of its results. The funding for this program is expected to come from the recent sale of Abrdn’s remaining stake in India’s HDFC Asset Management Co. UBS analysts anticipate a program worth £250 million.
  • Dividend: Abrdn is projected to declare an interim dividend of 7.3 pence per share, representing a flat dividend payout.
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