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March 9, 2021, 2:29 a.m. EST

Standard Life Aberdeen 2020 adjusted profit falls

By Sabela Ojea

Standard Life Aberdeen PLC reported Tuesday a decline in adjusted pretax profit for 2020 and said that it confident about what is to come as it simplifies the business through the exits from Nordics real estate and Indonesia, and the proposed sale of Parmenion.

The investment company posted an adjusted pretax profit of 487 million pounds ($673.1 million) for the year compared with GBP584 million for 2019. Adjusted pretax profit, formerly known as operating profit, is a preferred measure for Standard Life Aberdeen and strips out certain items.

The FTSE 100 listed company's net profit rose to GBP848 million from GBP210 million for the year earlier.

Fee-based revenue for the year fell to GBP1.43 billion from GBP1.63 billion for 2019, Standard Life Aberdeen said.

Assets under management and administration at the end of 2020 declined to GBP534.6 billion from GBP544.6 billion, it said.

The board declared a final dividend of 7.3 pence a share, bringing the full-year payout to 14.6 pence compared with 21.6 pence a year earlier.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

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