Profits slump 18% at Britannic Asset Management

Britannic Asset Management has seen its half-yearly profits drop 18% from last year, following difficult market conditions and a series of investments over the period.

Operating profit was £8.8m (€14.3m), compared to the June 2000 figure of £10.7m. However funds under management, which were £19bn at June 2000, are understood to be pretty much in line with last year's figures.

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