M&G chief executive Andrea Rossi has hailed the group’s international expansion as a key factor in strong half-year figures.

The savings and investment company, which has significant operations in Edinburgh and Stirling, saw net inflows of £2.1 billion in the first half of 2025, a £3.2bn turnaround on the £1.1bn outflow in the first half of 2024.

Adjusted operating profit before tax came in almost flat at £378 million, from £375m in the previous year. This was below expectations of £398m.

Pre-tax profit more than doubled to £559m, boosted by an increase in investment returns to £5.3 billion, from £4.5bn a year earlier.

Assets under management and administration (AUMA) reached £354.6 billion. The interim dividend was raised to 6.7p a share, up from 6.6p a year earlier.

Shares closed 1.1p, or 0.43%, lower at 255.75p.

Mr Rossi said: “I am pleased with our progress over the first six months of the year. A key highlight is the positive £2.1bn net flows from open business, a £3.2bn improvement from the same period last year. This is a strong result underpinned by £2.6 billion net inflows from external clients in Asset Management.

“This growth has been supported by our market leading investment performance and continued international expansion. Today, 58% of our Asset Management third party AUMA comes from International clients, up from 37% five years ago.

“This cements our position as a leading international active asset manager, with an established footprint in Europe and growing access to attractive Asian markets.”

He noted that in May the group announced a long-term strategic partnership with Dai-ichi Life, becoming its preferred asset manager for Europe.

“We expect this collaboration to generate at least $6 billion of new business flows over the next five years, and to further support our international growth ambitions,” he said.

A focus on efficiency has seen the cost-to-income ratio in asset management fall from 77% to 75%.

The group said it is well positioned to navigate the current uncertain economic and geopolitical environment.