SLA profits slump by 30% in H1
Fee-based revenue fell 13%
Keith Skeoch: "While the revenue outlook remains challenging for the industry, we will continue to focus on what we can control."
Standard Life Aberdeen (SLA) saw its profits fall by a third in its first-half results as revenue fell, but redemptions from its strategies fell to the lowest level since the firm's blockbuster 2017 merger.
SLA said adjusted profit before tax slipped to £195m in H1 2020, 30% lower than in H1 2019, at £280m, largely reflecting lower revenue. Its fee-based revenue fell 13% to £706m, from £815m. However,...
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