Any improvement in Aberdeen Asset Management 's (ADN) first-half performance when it reports its results next week will be from a low base. The emerging markets-focused asset manager has suffered 12 consecutive quarters of net outflows - peaking at £12.7bn during the final quarter of the financial year to the end of September last year.
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There is some hope that trading for the first half of this year will have been better. Net outflows slowed slightly to £9.1bn during the three months to the end of December. Management is also trying to diversify the business and reduce costs. However, analysts at Investec are forecasting adjusted pre-tax profits of £356m and EPS of 21p for the full year, down from £492m and 30p in 2015.
