Aberdeen Group First‑Half 2026 Results
Aberdeen Group posted adjusted operating profit of £151 million for the first half of 2026, exceeding the Visible Alpha consensus of £145 million. The beat was driven by revenue growth and lower operating costs, though specific revenue figures were not disclosed.
Assets under management and administration increased to £579.4 billion, surpassing the consensus estimate of £575.2 billion.
In the second quarter, net client flows were a £100 million outflow, falling short of market expectations for a £2.8 billion inflow. The outflow comprised £3 billion of investment withdrawals and £700 million of adviser withdrawals. These were partially offset by a record £3.8 billion of interactive investor inflows.
Aberdeen noted that the weaker flows were influenced by a previously disclosed £4 billion lower‑margin equities redemption and that a £1 billion credit mandate originally expected in Q2 would instead be funded in July.
The company reiterated its full‑year guidance, forecasting adjusted operating profit for 2026 of more than £300 million, compared with a consensus of £299 million.
Chief Executive Officer Jason Windsor said the group delivered a strong first‑half performance despite volatile markets, citing revenue growth and continued efficiency measures, and affirmed that the firm remains on track to meet its 2026 targets.
Morgan Stanley observed that operating profit was roughly 4%‑5% above consensus but described the client‑flow picture as softer than expected, suggesting that the unchanged outlook could offset the earnings beat.
Aberdeen shares fell more than 5% following the release, reflecting investor concern over the flow shortfall despite the profit beat and unchanged guidance.