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Schroders profits boosted by fund inflows

Reuters - UK Focus

LONDON, March 6 (Reuters) - British fund manager Schroders (Stuttgart: PYX.SG - news) posted higher-than-expected pre-tax profit growth before exceptional items of 41 percent for 2013, helped by acquisitions and flows of new money.

Unveiling its full-year results on Thursday, the FTSE 100 company announced pre-tax profit before exceptional items of 507.8 million pounds ($849.58 million), boosted by net inflows of 7.9 billion pounds.

A poll of 17 analysts had forecast pre-tax earnings of 473.9 million pounds.

"2013 was a record year for Schroders (LSE: SDR.L - news) ," said Chief Executive Michael Dobson in the statement. "This strong performance was the result of our highly diversified business and focus on growth over the long term."

Schroders announced it would pay a full-year dividend of 58 pence per share, up 35 percent on 2012.