Profits at investment firm soar by almost a third to £51.3m
Investor and asset manager Arrow Global saw its profits increase by more that 28% to £51.3m in the last 12 months.
The Manchester business published its full year results this morning.
It saw record £303.7m investment volumes and incomes rose by 32.9%.
Lee Rochford, group chief executive officer of Arrow Global, said: “The business performed well against its key operating metrics in 2019, with returns in the Investment Business remaining strong and improving margins in our Asset Management and Servicing business leading to a 28.3% increase in profit before tax to £51.3 million.
“This helped increase free cashflow generation by 13.3% to £261.4 million, allowing us to increase the dividend for the seventh year in a row and finish 2019 within our new lower leverage range of 3.0x-3.5x.”
“We are excited by Arrow’s future prospects and continue to see enormous opportunity to generate strong returns in our chosen markets.
“The launch of our Fund Management business is transformational for the Group, allowing us to capture more of this opportunity while also growing our capital light earnings.
“Our initial fundraise of €838.0 million was a milestone in our evolution to become a fully integrated alternative asset manager. We believe we can scale this business significantly over time and are continuing to target total Funds Under Management (FUM)of €2.0 billion by the end of 2020.”
