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Annual Results

Liontrust adjusted pre-tax profits up 18%

15 June 2017 07:24

Liontrust Asset Management's adjusted profit before tax rose to £17.2m in the year to the end of March - an increase of 18%.

Profit before tax fell by 3% £9.1m.

This included costs of £8.1m (2016: £5.2m) relating to the amortisation of the related intangible asset and other non-cash and non-recurring costs.

Revenues rose buy 15% to £51m which included £4.0m of performance fee revenues (2016: £7.4m).

On 31 March, assets under management were £6.5 billion (2016: £4.8 billion), an increase of 36%.

The acquisition of Alliance Trust Investments Limited completed on 1 April 2017 added £2.5 billion to AuM, taking AuM on 3 April 2017 to £9.1 billion. Assets under management as at close of business on 13 June 2017 were £9.344 billion.

Chief executive John Ions said: "It has been another successful year for Liontrust as we have recorded a seventh successive year of positive net flows and have continued to develop the infrastructure of the business.

"Our AuM has risen to £9.3 billion on 13 June 2017 and we are well positioned to move forward in an ever-more competitive and demanding environment.

"The investment we have made in the infrastructure of the Company, client servicing and distribution combined with the broadening of the investment proposition create an excellent platform to continue our growth.

"At a time when asset management is up front and central in providing solutions, it is more surprising how confused the industry looks.

"Well managed and focused businesses, whether large or small, should benefit from this and continue to grow successfully."

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