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Ashmore beats FY forecasts on emerging markets rebound

Reuters - UK Focus

LONDON, Sept 6 (Reuters) - Ashmore Group (Other OTC: AJMPF - news) posted forecast-beating full-year profits on Tuesday, buoyed by a recovery in market performance and investor sentiment towards emerging markets.

The firm said pretax profit fell 8 percent in the year to end-June to 167.5 million pounds ($223 million), although this beat a mean consensus forecast of 142.8 million pounds, Thomson Reuters data showed.

Revenues over the period were down 18 percent to 232.5 million pounds, broadly in line with a company supplied consensus forecast of 13 analysts for 230 million pounds.

As a result, the company said diluted earnings per share were down 7 percent to 18.1 pence a share, above a company supplied consensus for 15.2 pence a share.

Ashmore said it would pay a final dividend per share of 12.1 pence, taking its total dividend for the year to 16.65 pence a share. ($1 = 0.7508 pounds) (Reporting by Simon Jessop)