Investment company Janus Henderson Group (ASX:JHG) recorded third quarter FY2017 adjusted revenue of US$454.6 million which is down from Q2’s results of US$482.2 million, driven by decreased performance fees, even though its unadjusted revenue increased.
The company’s Q3 adjusted operating income of US$168.4 million decreased from US$199.5 million in Q2, also driven by lower performance fees.
Q3 adjusted net income of US$114.2 million declined 18 per cent compared to US$139.8 million in Q2, based on acquisition and transaction related costs, but unadjusted net income rose 139 per cent to US$99.5 million.
Earnings per share of US$0.49 increased 75 per cent compared to US$0.28 in Q2 2017 and compared to US$0.46 from the previous corresponding period, however diluted earnings per share on an adjusted basis of US$0.56 decreased 18 per cent compared to US$0.68 in Q2 FY2017.
Expansion of its long-standing strategic partnership with BNP Paribas into the US has resulted in cost synergies of US$125 million within three years, increased from US$110 million from the previous guidance.
Shares in Janus Henderson Group (ASX:JHG) closed 0.89 per cent higher to $45.50.