RNS Number : 4673F
Henderson Group plc
09 October 2008
Market update
9 October 2008
In August 2008, Henderson Group set out a financial goal to meet or beat a profit figure before tax and non-recurring items for 2008 of approximately £90 million, based upon a set of assumptions. Since then, global market conditions have deteriorated significantly and we have seen high levels of volatility as well as increased client activity. Hence, a number of the assumptions that underpin our stated goal, and which are beyond management's control, are no longer valid, resulting in pressure on assets under management and fee income.
For these reasons, we expect that Group profit before tax and non-recurring items this year will be less than £90 million.
In light of the prevailing market environment we are taking actions to protect our business and profitability and we will provide a further update to the market in our Interim Management Statement on 6 November 2008.
Henderson Group plc
4 Broadgate,
London EC2M 2DA
Registered in England No. 2072534
ABN 30 106 988 836
Notes to editors
About Henderson Group plc
Henderson Group plc (Henderson Group or Group) is the holding company of the investment management group Henderson Global Investors (Henderson). Henderson Group is headquartered in London and since December 2003 has been dual-listed on the London Stock Exchange and Australian Securities Exchange. Henderson Group is a constituent of the FTSE 250 and S&P/ASX 200 indices.
Established in 1934, Henderson is a leading independent global asset management business. Henderson provides its institutional, retail and high net-worth clients with access to skilled investment professionals representing a broad range of asset classes, including equities, fixed income, property and private equity. Henderson is one of Europe's largest investment managers, with £52.6 billion of AUM (as at 30 June 2008) and employs around 970 people worldwide.
About CHESS Depositary Interests
In this announcement, the term 'shareholders' refers to all holders of Henderson
Group plc shares, including those whose holdings are in the form of CHESS Depositary Interests on the ASX.
CHESS Depositary Interests, or CDIs, are a way of allowing securities of foreign companies to be traded on the ASX. CDIs afford shareholders all the same direct economic benefits as ordinary shares, like the right to dividends and the right to participate in rights offers.
Further information
www.henderson.com or
Investor enquiries
Mav Wynn, Head of Investor Relations +44 (0) 20 7818 5135 or
+44 (0) 20 7818 5310
mav.wynn@henderson.com or
investor.relations@henderson.com
Media enquiries
United Kingdom: Maitland Australia: Cannings
Lydia Pretzlik/Rebecca Mitchell Pip Green/Luis Garcia
+44 (0)20 7379 5151 +61 (0)2 9252 0622
This information is provided by RNS
The company news service from the London Stock Exchange
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