Shares in Aberdeen Asset Management were up on the FTSE 250 in morning trading after the group reported a rise in pre-tax profit in the six months ended 31 March 2011.

Underlying pre-tax profit in the period increased 54 per cent to £142.8 million, while underlying earnings per share increased 47 per cent to 8.9 pence per share. Group revenue rose from £294.9 million to £385.9 million.

The group said that it would be raising its interim dividend 19 per cent to 3.8 pence per share. During the period the group used £62.7 million to purchase shares for its deferred share scheme.

The period also saw the group swing from a net debt of £7.7 million to having net cash of £13.5 million.

Martin Gilbert, Chief Executive of Aberdeen Asset Management, commented, "These are very strong results reflecting continuing top line growth across profits, margins, revenue and assets under management. This combined with a healthy net cash position and strengthened balance sheet underscores the positive performance of the company over the last six months.

"Demand for Aberdeen's established Asia Pacific, emerging market and global equities products has remained strong and there is a growing interest in some of our fixed income, property and alternative capabilities.

"Macro events in recent months have generated significant volatility in global markets and this looks set to continue. We are committed in our belief that our investment philosophy and process are well suited to such conditions."

By 08:25 shares in Aberdeen Asset Management were up 3.45 per cent on the FTSE 250 to 236.90 pence per share.