Fourth-quarter net profits at Franklin Resources Inc. jumped 39% from a year earlier, to $240 million, and assets under management also increased.
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Earnings per share surged to 92 cents, from 67 cents, the San Mateo, Calif., firm reported Thursday. Franklin is the holding company for the Franklin and Templeton mutual funds
Assets under management rose 11.1% from the third quarter and 19.5% from a year earlier, to $402.2 billion.
Operating expenses increased 17% from the 2003 quarter, and operating margins rose to 30%, from 28%. Investment management fees increased 11% from the third quarter, to $566.5 million; operating revenue rose 12%, to $986 million.
