Neptune profits tumble 40% in 2013 as headwinds impact global approach

Profit before tax was £7.4m, according to the company’s accounts, down 42% compared to the £12.8m profit it reported in 2012. Group revenue for the year fell 14% from £85m to £72.9m. Assets under management also fell by 7.8%, to £5.4bn, with the group blaming both "abnormal" central bank policy and the company's much greater emphasis on international investment - in particular its greater exposure to the US dollar - for the falls. Chairman Jonathan Punter said: “Neptune is much more internationally positioned than most of its UK-centric competitors and this strategic strength has had ...