AAM enjoys rise in profit

INVESTMENT firm Aberdeen Asset Management has recorded a rise in profits, despite "unprecedented market difficulty".

The company, which has an office at 40 Princes Street, saw pre-tax profits before exceptional items rise to £95.1 million in the year to the end of Septmber, compared to £94.3m last year.

Its assets under management also increased to £111 billion, compared to £95.3bn last time.

Chief executive Martin Gilbert said: "Conditions in the asset management industry are tough and will remain so for some time."