From Morningstar:

In 2023, Abrdn reported a reduced pretax loss of £6 million compared to £612 million in 2022. Expenses were cut to £1.46 billion from £1.92 billion, leading to a decline in net operating revenue to £1.40 billion. Assets under management fell to £494.9 billion, with net outflows worsening to £12.4 billion in the second half.

Despite cost cuts, Abrdn’s cost-to-income ratio remained at 82%, with a final dividend of 7.3 pence per share. CEO Stephen Bird expressed confidence in future growth despite shares initially rising to 171.50 pence, later dropping to 160.92p. The stock is down 20% over the past year, with plans to save £150 million yearly by 2025.



Read more at Morningstar: Abrdn Losses Narrow But Outflows Persist