Old Mutual sales rise as volatile currencies flatten profits
* Funds under management up 19 pct to 294 billion pounds
* Net client cash flow 15.5 bln stg
* 811 mln stg free surplus
LONDON, Feb 28 (Reuters) - Anglo-South African financial services group Old Mutual saw a 15 percent rise in profits driven by robust sales growth across its businesses brought flat by currency volatility.
In a statement of full year earnings on Friday the group said gross sales reached 25.3 billion pounds for the year, at the top end of analyst forecasts and up 17 percent from a year earlier.
However, volatile currencies in South Africa and other emerging markets kept profits flat.
Adjusted operating profit of 1.6 billion pounds was unchanged from a year earlier but represents 15 percent growth on a constant currency basis.
The group also declared a 6 pence final dividend, bringing the total for the year to 8.1 pence per share.
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