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Schroders first-half pretax profit down 14% as outflows hit revenues

Schroders first-half pretax profit down 14% as outflows hit revenues
FILE PHOTO: A man walks past the logo of investment management company Schroders at a branch in Zurich, Swtzerland November 5, 2018. REUTERS/Arnd Wiegmann -
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ARND WIEGMANN(Reuters)
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LONDON (Reuters) – British asset manager Schroders <SDR.L> said pretax profits fell 14% in the first half of the year, hit by weaker market sentiment and outflows of client cash.

Pretax profit in the six months to end-June was 319.3 million pounds, down from 371.1 million in the same period a year earlier. Net outflows over the period were 1.2 billion pounds, it said in a statement on Thursday.

(Reporting by Simon Jessop, editing by Sinead Cruise)

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