Standard Life Aberdeen  

SLA profits take a hit as fees dip

Steve Clayton, manager of the Hargreaves Lansdown Select UK Income Shares, which holds a position in the stock, said: "These numbers were a little below market forecasts, and showed a continuation of the outflows that the business has been suffering from in recent years. But progress is being made nonetheless."

Standard Life Aberdeen's interim dividend remained unchanged at 7.3p a share.

Mr Clayton said: "Standard Life Aberdeen has plenty of capital and valuable non-core assets to support their dividend for some time to come.

"This gives the group time to fix the performance issues and resulting outflows that have dogged the asset manager for some time now.

"The yield is very attractive, currently over 7 per cent. But the sustainability of the payment longer term requires the group to return to more predictable organic growth and net inflows."

rachel.addison@ft.com 

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