Mediolanum 2012 net rises five fold to historic high

MILAN, March 21 Thu Mar 21, 2013 8:51am EDT

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MILAN, March 21 (Reuters) - Italian asset manager Mediolanum said on Thursday its net profit last year rose more than five-fold thanks to commissions, performance fees and asset revaluations.

In a statement Mediolanum said its 2012 net profit was 351 million euros ($454.65 million), up 422 percent on the previous year, the best result in its history.

It said the results also included a 63 million euro write-down on its stake in investment bank Mediobanca.

Mediolanum, one of Italy's biggest asset managers, said it would pay a dividend of 0.18 euros per share. ($1 = 0.7722 euros) (Reporting By Stephen Jewkes, editing by Danilo Masoni)

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