AUS
NZ
UK
CA
USA
IND
_07_03_2026_03_50_21_133108.jpg)
Highlights
- Man Group's H1 FY24 core net revenue rose 48.34% to USD 761 million.
- Statutory profit before tax increased 92.11% to USD 219 million in H1 FY24.
- The company announced an interim dividend of 5.6 US cents per share for 2024.
The financial services sector encompasses banking, asset management, fintech, insurance, and more. As a key growth driver for the UK economy, it offers high productivity and well-paid jobs, ranking fourth in national economic output among OECD countries in 2021. With this backdrop, let us look at the business model of a prominent financial player listed on the London Stock Exchange, i.e., Man Group Plc (LSE:EMG).
Man Group is an FTSE 250 listed UK-based investment management firm. It leverages technology to enhance its active investment strategies.
In H1 FY24, core net revenue of the company reached USD 761 million, marking a rise of 48.34% compared to USD 513 million in H1 FY23 (pcp). This growth was driven by a notable rise in core net management fees, which climbed to USD 551 million from USD 460 million the previous year. Additionally, core performance fees surged to USD 170 million, up from just USD 32 million, while core gains on investments rose to USD 39 million, compared to USD 19 million in pcp.
Statutory profit before tax also saw a decent rise, reaching USD 219 million in H1 FY24, up from USD 114 million in H1 FY23, marking a 92.11% growth. This rise in profit was largely attributed to enhanced revenues from both management and performance fees during the six months.
Recent Business Update
On July 26, 2024, Man Group announced an interim dividend of 5.6 US cents per ordinary share for the year ending December 31, 2024. The equivalent amount in Pence Sterling was announced on September 6, 2024. This amount was based on the average market exchange rates over three working days starting September 3, 2024, with an exchange rate of GBP 1:USD 1.3137. As a result, the interim dividend payable to shareholders was be GBX 4.26 per ordinary share.
Outlook
As per the company, macroeconomic dynamics, global political developments, and lower private equity realisations are creating challenges for clients. It might affect near-term allocation decisions and increase instability around net flows.
However, the company is optimistic about its growth prospects, citing structural trends in asset management that favour customized solutions, liquidity, and alternatives. Despite ongoing systematic long-only redemptions, Man Group is gaining positive momentum as it moves into the second half of the year. This progress is fueled by strong investment performance, high levels of client engagement, and advancements in strategic priorities. The firm remains dedicated to enhancing investment outcomes, collaborating with clients to address their needs, and establishing itself as a leader in alternative investment management for long-term success.
Price Information
The stock price of EMG has hit a 52-week low of GBX 205.10 and a high of GBX 279.22. As of 02 Oct 2024, the stock’s closing price is 220.20. The stock has gained 0.46% in the past month whereas, it has lost 8.25% in the past three months.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 02 October 2024. The reference data in this report has been partly sourced from EODHD/Others.
