Janus Henderson reports lower revenue in Q3
Janus Henderson (JHG) has reported lower adjusted revenue in the third quarter of 2018, down from US$477.7 million in Q2 to US$468.9 million in Q3, after a decrease in performance fees was partially offset by an increase in management fees.
Net income attributable to JHG was US$111.2 million compared to US$140.6 million in the second quarter 2018 and US$99.5 million in the third quarter of 2017.
Third quarter 2018 diluted earnings per share was US$0.55 compared to US$0.70 in the second quarter 2018 and US$0.49 in the third quarter 2017.
JHG’s chief executive, Dick Weil, said: “While net flows and recent investment performance was not where we expected them to be, it is also true that we are seeing many areas in our business that are doing well.”
“Our US intermediary business is gaining market share, exceeding the industry’s organic growth this quarter, and our global institutional pipeline is seeing a growing number of opportunities across Australia, the Middle East, Asia and the US.”
The board declared a third-quarter dividend of US$0.36 per share.
“We recognise short-term performance flow and flow challenges gain particular attention in a quarterly reporting cycle, however, they do not define our long-term value proposition or derail our plans to achieve organic growth,” Weil said.
“Going forward, we remain committed to our goals of growing market share profitably in each of our key markets and delivering an exceptional client experience.”
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