Man Group’s profits up under IFRS

Hedge fund operator Man Group has announced that pre-tax profits would have
been up from £789m to £863m under new international financial reporting
standards (IFRS).

The provider of alternative investment products restated its 2005 figures
today in a stock exchange announcement.

Changes came about as a result of changes to goodwill amortisation, dividend
timing and pension scheme accounting changes, the Man Group said.

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Fiona Westwood of Smith and Williamson.