LONDON, Jan 24 (Reuters) - British asset manager abrdn suffered 12.4 billion pounds ($15.75 billion) of net outflows in the second half of 2023, the company said on Wednesday, as it struggles to stem the tide of customers pulling cash from the business.

Abrdn also said in a pre-close trading update that it would embark on a cost reduction plan to cut at least 150 million pounds from the business by the end of 2025, ahead of publication of its full results on February 27.

The fund manager said its assets under management and administration dipped over the period to 494.9 billion pounds, down from 495.7 billion at the end of June. ($1 = 0.7873 pounds) (Reporting by Iain Withers, editing by Sinead Cruise)