Stockmarket

Asset manager DWS says Q4 earnings beat market expectations



© Reuters. FILE PHOTO: The new logo of Deutsche Bank’s DWS Asset Management is pictured at their headquarters in Frankfurt, Germany, March 19, 2018. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) – German asset manager DWS said its fourth-quarter earnings rose significantly more than analysts had expected, driven by higher performance, transaction and management fees.

Quarterly adjusted profit before tax jumped to 378 million euros ($433 million), up from 212 million euros a year earlier, it said in a statement on Thursday, citing preliminary results.

The company added it proposed an annual dividend of 2.00 euros per share. The group is due to report full fourth-quarter results on March 11.

($1 = 0.8731 euros)

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