Franklin Resources managed to deliver a slight increase in profits for its fiscal fourth quarter ended Sept. 30. Profits rose 1.5% to $372.9 million, or $1.65 a share, from $367.4 million, or $1.59 a share, in the fourth quarter of fiscal 2009.
Revenue jumped 23% to $1.53 billion, which Franklin CEO Greg Johnson attributed to “strong global sales [that] led to long-term net new flow, combined with continued strong investment performance and the rebound in equity markets.”
Assets under management grew 23% to $644.9 billion, from $5232.4 billion a year ago.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access