Key facts
- Aberdeen's Interactive Investor platform attracted tens of thousands of new customers.
- Customer numbers grew 14% to 525,000 in the first half.
- Net inflows into Interactive Investor reached £6.8bn.
- Total pre-tax profit rose 2% to £276m.
- Adjusted pre-tax profit growth was 11%.
Aberdeen has reported a rise in profit for the first half of the year, largely driven by strong inflows into its Interactive Investor platform. The investment platform added tens of thousands of new customers, increasing its total customer base by 14 per cent to 525,000.
Interactive Investor saw net inflows of £6.8bn, which helped to offset outflows in Aberdeen’s Adviser and Investments businesses. Total pre-tax profit was up two per cent to £276m. The company’s adjusted pre-tax profit growth of 11 per cent was 8 per cent higher than analysts’ consensus figures.
Chief executive Jason Windsor expressed optimism for future growth, stating, “Looking ahead, we see substantial headroom for further growth across the business.”
Nick Sherrard, managing director of finance consultancy Label Sessions, commented on the growth at Interactive Investor, questioning the company's overall identity. He suggested that Aberdeen needs to define whether it is primarily an asset manager with an attached platform or a wealth business carrying an asset manager to effectively communicate its proposition to customers and markets.