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Abrdn returns to profit on cost cuts and asset sale

Struggling UK asset manager has embarked on a major cost-cutting programme
Abrdn interim chief executive Jason Windsor: ‘We are firmly on track to realise at least £150mn of annualised cost savings by the end of 2025’

Abrdn returned to profit in the first half after the struggling UK asset manager cut costs and sold its private equity business.

The London-listed group on Tuesday reported a first-half profit of £187mn compared with a loss of £169mn a year earlier.

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