Aberdeen Asset Management has revealed the deal to acquire Parmenion will cost about £50m overall.

The company also reported this morning that its pre-tax profits were just over half of what they were a year before.

The interim results for up to 31 March this year showed pre-tax profits of £98.8m, down from £185.4m one year previously.

Aberdeen completed the purchase of Parmenion Capital Partners LLP and its sister company, Self Directed Holdings Limited in January.

The results statement, published today, read: “Total consideration for this transaction was £49.8 million, comprising cash consideration of £39.7 million and contingent consideration of £10.1 million under an earn-out.

“The fair value of the earn-out at completion was £10.1 million, determined by the probability weighted expected return and growth over the period from acquisition to 31 December 2017, subject to a maximum of £16.8 million, and discounted to a present value. The undiscounted fair values identified in this analysis range from £8.0 million to £16.8 million. After the impact of unwinding the discount to date of £0.3 million, the deferred liability is £10.4 million at 31 March 2016.”

Parmenion added revenue of £2.2 million and profit before tax of £0.4 million in the period to 31 March 2016.

The purchase of Parmenion, Arden, and Advance added £9.5 billion of new assets, the company reported, adding that this was “offset by the disposal of £1.7 billion of low margin property management assets in order to deliver cost efficiencies”.

A net £7.8 billion of AuM was added from corporate transactions completed in the period.

Gross new business inflows for the period totalled £21.5 billion, up from £19.1 billion a year before and outflows amounted to £38.2 billion, falling from £41.7 billion, resulting in a net outflow for the six month period of £16.7 billion, compared to £22.6 billion the previous year.

Chairman Roger Cornick said: “Gross new business inflows have continued at healthy levels, while outflows have moderated slightly. However, we remain vulnerable to further outflows over the next few quarters as clients continue to react to the difficult conditions for performance over the last few years.

“To some extent, these flows have been cushioned by the recent rally in markets and the net addition of assets from transactions completed in the period. As a consequence, total AuM at 31 March 2016 was £292.8 billion, a 3% increase compared to 30 September 2015.”

Martin Gilbert, chief executive of Aberdeen Asset Management, said: “These results reflect the challenging conditions Aberdeen has faced during the past three years, in particular the weakness in emerging markets.

“However our balance sheet strength has allowed us to continue to invest in the business, including the completion of a number of bolt-on acquisitions which have added new capabilities and new client channels.”