AMVESCAP reported a $252.5 million profit for the six months ended June 30, up from $183 million for the same period in 2003. Revenue rose to $1 billion, from $912 million the year before, the company said in its earning report, released today.
Average assets under management totaled $374.4 billion for the first half of 2004 up from $329.9 billion.
Charles W. Brady, executive chairman, said in a statement that worldwide, businesses experienced good growth, but in the United States, uncertainty surrounding regulatory issues hurt the company's performance. "AMVESCAP's efforts to reach a settlement with U.S. regulators continue to progress, and we hope to resolve these matters in the near future," he said.
The U.S. AIM group reported an operating profit of $141.9 million for the six months, down from $146.4 million for the year before. But the U.S. INVESCO group's operating profit rose to $53.5 million from $32.3 million a year earlier.
