Record plc, the specialist currency and asset manager, lifted half-year profit by 49 per cent as assets under management reached a record $130.3 billion.

The London-listed group said revenue rose 19 per cent to £22.8 million in the six months to 30 September, up from £19.2 million a year earlier, helped by stronger management fees and a sharp increase in performance fees. Operating profit climbed 64 per cent to £7.3 million, and the operating margin improved to 32.3 per cent from 23.4 per cent.

Profit after tax attributable to shareholders rose to £5.6 million from £3.7 million, and basic earnings per share increased to 2.84p from 1.93p.

Record assets, strong inflows

Assets under management rose 14 per cent over the half year to $130.3 billion, from $114.6 billion at 31 March, including net inflows of $12.7 billion across the group's three product pillars. The strongest contribution came from Absolute Return, where net inflows of $10.4 billion were driven mainly by new FX Alpha mandates won towards the end of the period. Risk Management assets reached $95.9 billion, while Private Markets increased to $19.8 billion.

Management fees rose 6 per cent to £18.6 million, while performance fees jumped to £2.2 million from £0.8 million. The group generated £5.9 million of cash from operating activities before tax, up from £4.6 million a year earlier, and ended September with cash of £13.4 million.

Dividend cut under new policy

The board declared an interim dividend of 1.00p per share, down from 2.15p a year earlier, under a new dividend policy targeting a payout of 40 to 60 per cent of profit after tax. Chief executive Jan Witte said the first half was strong both operationally and financially. The shares closed 1.5 per cent higher at 47.5p.

Sources: ADVFN; DirectorsTalk Interviews; TickStock; Record plc second-quarter trading update (RNS, 22 Oct 2026).