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ARA Asset Management 9M15 Earnings Down 24%

Shares Investment

ARA Asset Management announced 9M15 net profits of $52.5 million, a slump of 24.3 percent from the net profits of $69.4 million last year, on the back of a drop in revenue.

Total revenue saw a decline of 14 percent to $112.6 million mainly attributed to lower contributions across the board except for management fees, which inched 2.2 percent to $95 million. Acquisition, divestment and performance fees, Finance income and Other income had significant decreases at 55.4 percent, 45.6 percent and 91.1 percent respectively.



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