Standard Life Aberdeen share price: Investors eye full-year results this week

Standard Life Aberdeen share price: Investors eye full-year results this week
Written by:
Tsveta van Son
11th March 2019
Updated: 21st October 2019

UBS expects Standard Life Aberdeen (LON:SLA) to post a drop in second-half revenue and profit when it updates investors on its performance this week, Proactive Investors reports. The asset manager’s update will follow this week’s results by peers Aviva (LON:AV) and Schroders (LON:SDR).

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Standard Life Aberdeen’s share price fell deep into negative territory in today’s session, giving up 1.18 percent to 238.30p, underperforming the broader UK market, with the benchmark FTSE 100 index shedding 53.74 points to close 0.74 percent lower at 7,104.31. The group’s shares have lost more than 43 percent of their value over the past year, as compared with about a 1.4-percent drop in the Footsie.

SLA to post FY results

Standard Life Aberdeen is scheduled to update investors on its full-year performance on Wednesday and Proactive Investors reports that UBS expects the company to report second-half revenue of £1.12 billion, down 17 percent as compared with the first half of the year, albeit largely due to the sale of the insurance business which completed in the middle of the period. The broker further expects the asset manager’s gross operating profit to come in at £300 million, with after-tax adjusted profit to be £310 million, down 19 percent from the first half.

The update will come after former HSBC (LON:HSBA) chair Douglas Flint succeeded Gerry Grimstone as Standard Life Aberdeen’s chairman on January 1.

Analyst ratings update

The 15 analysts offering 12-month price targets for Standard Life Aberdeen for the Financial Times have a median target of 332.57p on the shares, with a high estimate of 480.00p and a low estimate of 255.00p. As of March 9, the consensus forecast amongst 19 polled investment analysts covering the blue-chip asset manager has it that the company will outperform the market.  

As of 07:13 GMT, Monday, 11 March, Standard Life Plc share price is 364.05p.

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