French asset manager Amundi has reported net income – group share of €308m for the first half of 2017, an increase of 11% compared to €278m a year ago.
For the period ended 30 June 2017, the company’s pre-tax income stood at €467m, up 12% compared with €416m in year ago period.
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Net revenue rose 8% to €910m from €838m in the previous year. Gross operating income increased 13% year-on-year to €456m.
The group’s cost income ratio at the end of the first half of 2017 was 49.9% as against 51.9% in the last year.
Amundi’s assets under management were € 1.12bn at the end of June 2017, up 12% compared to €1bn in the previous year.
Amundi CEO Yves Perrier said: “Amundi confirmed its profitable growth momentum in the first half of 2017. Its net inflows and results growth trends exceed the targets announced at the time of the IPO. The acquisition of Pioneer Investments has been finalized on 3 July as planned. Its integration is well on track. This acquisition is an important step in the implementation of Amundi’s growth strategy and will be a strong source of value creation.”
