â¢ Assets under Administration (AuA) increased 14% in the first half of 2011 to $170 billion as at 30 June 2011 - an increase of 42% in the past 12 months
â¢ 23% growth in revenues to $110.4 million
â¢ 28% increase in adjusted operating profit to $32.4 million
â¢ Adjusted operating profit margin expanded to 29.4% of revenues versus 28.4% in first half 2010
â¢ Cash of $87.8 million as at 30 June 2011 compared to $60.2 million as at 30 June 2010
â¢ 100% increase in interim dividend to 2.00 pence per share versus 2010 interim dividend
Hans Hufschmid, chief executive officer, said:
"GlobeOp performed well during the first half of the year. Revenues grew 23% and adjusted operating profit increased 28% compared to the first half of 2010. We added new clients, particularly in the second quarter, and our new business pipeline is building. We have continued to invest in our capabilities and enhanced our marketing efforts while expanding profit margins and generating strong cash flows. We see an array of growth opportunities for GlobeOp and believe recent global volatility will create opportunities for fund managers over time. We remain optimistic about our business and look forward to the second half of 2011."