Aberdeen profit beats forecast but shares fall after surprise outflows

Shares in Aberdeen Group PLC on Wednesday came under pressure as net flows were worse than expected in the first half of 2026, overshadowing a modest operating profit beat.

The Edinburgh-based wealth and asset manager said IFRS pretax profit rose 1.8% to £276 million in the half year ended June 30 from £271 million a year before.

Adjusted operating profit increased 21% to £151 million from £125 million, ahead of £145 million company-compiled consensus.

But net outflows in the period of £3.0 billion were far worse than the £800 million inflows expected by consensus. This includes £2 billion Institutional & Retail Wealth liquidity net outflows.

In response, shares in Aberdeen were down 5.3% to 235.40 pence each in London on Wednesday, the worse performer in the FTSE 100 index, which was up 0.1%.

Investor platform interactive investor saw record net inflows of £6.8 billion, but Aberdeen's Adviser business posted outflows of £1.3 billion and its Investment unit £5.6 billion outflows.

Chief Executive Jason Windsor called it a "dynamic" market and said he sees substantial headroom for further growth across the business.

Aberdeen said it is confident in the delivery of 2026 targets of adjusted operating profit of at least £300 million and net capital generation of £300 million.

In 2025, Aberdeen posted adjusted operating profit of £264 million and net capital generation of £239 million.

Beyond 2026, it is targeting growth in net capital generation of 5% to 10% per annum over the medium term, absent any major market irregularities.

The dividend was left unchanged at 7.3 pence per share.

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