Half year results
Explore the details of our half year 2026 results, driven by strong strategic transformation, supportive markets and good sales momentum.In early 2025, we launched an ambitious three-year transformation plan. Eighteen months on, we have simplified the business, strengthened and scaled our core capabilities and are seeing this translate into improved financial outcomes.
£150 million of annualised costs savings over 3 years
We have now delivered over 98% of our savings target.
Public Markets: stabilise revenues by end 2027*
Underlying net operating revenue increased 22% year on year, supported by strong markets and continued momentum in gross sales.
Schroders Capital: generate cumulative net new business of £20 billion
NNB of £1.1 billion in the first half of 2026, including a £0.2 billion contribution from the Future Growth Capital (FGC) JV.
Wealth Management: achieve net new business rate of 5-7% of opening AUM per annum (2025 to 2027)
Strong second quarter performance strengthened Cazenove Capital's annualised NNB rate to 5%.
Adjusted cost to income ratio reduced to 68%, achieving the Group's <70% target within the first 18 months of our three-year programme.*
*Subject to normal market conditions.
Our half year results reflect strong revenue growth and disciplined cost management, driving improved profitability and demonstrating the progress we are making in building a more focused and efficient business.
£396.8 million
Statutory profit before tax – up 102%
£867.8 billion
Assets under management – up 12%
£459.8 million
Adjusted operating profit – up 46%
Downloads and documents
Press release is available to download from our results library.