MSE News: 'Rip-off' pension charges targeted by Government

Thrugelmir

In the year to September 2012. Aberdeen Asset Management made an a pre tax profit of £270 million on a gross turnover of £869 million.

That's a 31% margin. After salaries and pensions.

Energy companies this week were hammered for making 5%...........

Along the line somewhere , many people have become very greedy.

jamesd

What do you make instead of the 430 million turnover and 60 million pre-tax profit in 2008? Or the 422 million and 10 million (2.4%) in 2009? How about the 40% gross margin of Apple? Or the 70-80% gross margin of Oracle?

The energy companies don't make just 5%. They make more like 50% when you look at just the value they add, around 10% of a bill. Like Aberdeen Asset Management they have large amounts of money moving in and out that they are just taking a cut of.

Linton

Thrugelmir wrote: »

In the year to September 2012. Aberdeen Asset Management made an a pre tax profit of £270 million on a gross turnover of £869 million.

That's a 31% margin. After salaries and pensions.

Energy companies this week were hammered for making 5%...........

Along the line somewhere , many people have become very greedy.

AAM have £200Bn under management so their profit is about 0.15% of that. The value of a fund can easily go up or down 1% in a day never mind 0.15%. A year's profit is equivalent to what may easily happen in an hour of trading.

Of course if you believe that AAM is making a vast amount of money for old rope why not take advantage, buy some shares and become a part owner. They pay a 3% dividend which accounts for a significant part of their available profit.