Quilter Management Steers Full-Year Profit Toward Lower End of Consensus

Quilter management has steered expectations for full-year adjusted operating profit toward the lower end of consensus, targeting approximately £265 million. This figure represents a significant reduction from the initial £400 million guidance provided at the beginning of the year. Despite the downward revision, the company reiterated its expectation of a net cash position of £250 million by year-end, even after accounting for approximately £240 million in shareholder returns through dividends and other distributions.