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Schroders announces £101.6m pre-tax profits for Q3

Schroders has announced pre-tax profits of £101.6m for the third quarter of 2011.

The figure is up on the £94.5m in the third quarter of 2010. Profit before tax for the nine months to September 30, 2011, stood at £317.3m, up from £282.7m in the nine months in 2010.

Asset management revenues for the third quarter stood at £256.8m, compared to £232.7m in 2010, while profit before tax was £92.7m in Q3, compared with £85.9m in the third quarter of 2010.

Schroder’s assets under management stood at £182.2bn at September 30, 2011. The group has seen £2.8bn of inflows into its institutional offering offset by £2.7bn of ouflows in its intermediary and £100m in its private banking arm.

Net inflows for the first nine months of 2011 stood at £5.1bn.

Pre-tax profits for the private banking sector stood at £6.7m in Q3, compared with £2.9m in 2010, while pre-tax profits for the group segment were £2.2m, compared with £5.7m in 2010.

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