Julius Baer: share down as results disappoint
(CercleFinance.com) - The Julius Baer share is falling this morning, currently losing 2% in Zurich after the publication of its FY results, which, although upbeat, fell slightly short of estimates.
However, the share has still risen by 35% y-o-y.
The leading Swiss asset manager ended FY 2017 with a record adjusted net profit of 806 million Swiss francs, up 14% (EPS of 3.66 Swiss francs). Excluding Kairos, underlying earnings increased by 30%.
At 388 billion Swiss francs, assets under management increased by 16% over the year. Net capital inflows amounted to 22 billion Swiss francs (+6.6%), which exceeds management's forecast range (+4% to +6%).
A 17% increase in the group's dividend to 1.40 Swiss francs per share will be proposed at its next AGM.
The group's AGM will offer to raise its 2017 dividend by 17% to 1.40 Swiss francs per share.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
However, the share has still risen by 35% y-o-y.
The leading Swiss asset manager ended FY 2017 with a record adjusted net profit of 806 million Swiss francs, up 14% (EPS of 3.66 Swiss francs). Excluding Kairos, underlying earnings increased by 30%.
At 388 billion Swiss francs, assets under management increased by 16% over the year. Net capital inflows amounted to 22 billion Swiss francs (+6.6%), which exceeds management's forecast range (+4% to +6%).
A 17% increase in the group's dividend to 1.40 Swiss francs per share will be proposed at its next AGM.
The group's AGM will offer to raise its 2017 dividend by 17% to 1.40 Swiss francs per share.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.