WSJ – Man Group PLC Wednesday said its business is continuing to shrink because of poor performance at its AHL trading program, and estimated full-year pretax profit will be less than half that in the previous year.
The hedge-fund operator, which has seen its assets fall to $39.1 billion from a peak of $79.5 billion before the financial crisis, said it expects pretax profit for the year to be around $530 million, compared with $1.24 billion in fiscal 2009 and below average analyst estimates of around $550 million.
