Full year results

We are building a stronger abrdn. As we exit year two of our three-year strategic plan, the structure of our group is now broadly set. We are increasingly well positioned for growth.

In one of the toughest investing years in living memory, the resilience we have created in our business model helped us to deliver adjusted operating profit of £263m.

Adviser and Personal, which benefited from the acquisition of ii, both delivered increased revenue and profits. This provided an important offset to the impact of market conditions on our Investments business.

In Investments, gross flows excluding liquidity held up well at £49bn in spite of the considerably worse environment. Underlying net outflows were 3% of opening AUMA, excluding the last LBG withdrawals and liquidity, and were concentrated in equities.

We are making progress on our commitment to focus on areas of scale and strength, and to simplify and reduce costs in the business. Overall, we are increasingly well positioned for the cycle turning. Our three businesses work well together and we are building the linkages that will create value across the group.

Our capital position is strong and we are reinvesting into growth areas, while providing returns to shareholders. We look to the year ahead with confidence and a clear focus on delivering for clients and our wider stakeholders.”