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Old Mutual profits jump 61 per cent

Fund manager Old Mutual has seen its operating profits jump 61 per cent to £457m from £284m in the six months ending June 30.

Its funds under management have increased 23 per cent to £55.1bn from £44.9bn over the same period.

The increase exceeded analysts&#39 expectations. The growth has followed rapidly from the South African owned fund manager&#39s floating in London last July.

Old Mutual chairman and chief executive Mike Levett says: “The past six months have seen Old Mutual make considerable progress in the development of its core businesses.”

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