Janus Capital Group reported Thursday that its fourth-quarter profits rose 249% to $37.7 million on revenue of $241.2 million.
The company said strong revenue and asset flows led to the sharp improvement in profits.
For the full year, profits rose 52% to $133.6 million, up from $87.8 million in 2005.
“We believe the firm is very well positioned as we exit 2006,” said Gary Black, CEO of Janus. “We believe we have to get to a positive net flow position on our Janus-managed products, and we are hoping to do that by year-end.”