American money manger BlackRock has reported a net profit of US$841 million for the fourth quarter, up 22% from US$690 million a year earlier.
For the quarter ended 31 December 2013, revenue rose 9% to US$2.77 billion from US$2.54 billion in the corresponding quarter of 2012.
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Over all, the company’s assets under management increased US$228 billion in the fourth quarter and ended the year at a staggering US$4.3 trillion.
Fourth quarter 2013 operating income of US$1.1 billion was up 13% from the fourth quarter of 2012. Operating margin of 40.8% was up 120 basis points from the year ago quarter.
The company said its board had approved a 15% increase in its quarterly cash dividend to US$1.93 per common share, payable in March.
"2013 was a strong year for BlackRock, with 21% growth in as adjusted EPS and 13% growth in as adjusted operating income, fueled by long-term net inflows of over $117 billion," commented Laurence Fink, Chairman and CEO of BlackRock.
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By GlobalData"Throughout the year we demonstrated the collective strength and stability of our diversified, multi-client platform. We saw growth across all of our businesses – Retail, iShares, Institutional and BlackRock Solutions."
