Reuters – British fund firm New Star Asset Management (NSAM.L: Quotazione, Profilo) said on Friday its full-year earnings rose 82 percent in 2005, beating most analysts’ forecasts.
The firm, founded by John Duffield in 2000, said operating earnings before tax, interest, exceptional items and amortisation of goodwill and intangibles rose to 46.1 million pounds. Operating earnings per share on the same basis climbed 78 percent to 15.3 pence.
Operating margins rose to 46 percent from 37 percent. The firm said margins can rise further as it focuses on higher margin business.
“The company outperformed our assumptions on all metrics,” Geoff Miller, an analyst at brokers Bridgewell Securities, said in a note.
