Liontrust FY pre-tax profits slide, reports record AUM for Q1

Asset manager Liontrust reported record net inflows for the three months ended 30 June on Wednesday with assets under management continuing to grow throughout the quarter.

Liontrust said assets under management and advice came to £19.bn at the end of the quarter, marking a 20% jump since the start of the trading year, while net inflows surged 33.9% to £971m.

However, when discussing the trading year ended 31 March, the FTSE 250-listed firm said its pre-tax profits had fallen 25.6% to £16.5m despite a 22% increase in assets under management and advice and 26% revenue growth to £107m.

Liontrust also declared a second interim dividend per share of 24p, taking the total dividend per share for the financial year to 33p - up 22% year-on-year.

Adjusted pre-tax profits were up 26% at £38.1m and adjust diluted earnings per share grew 21% to 56.7p.

Chief executive John Ions said: "This has been another very positive year for Liontrust with record sales and strong fund performance.

"It has also been a year in which we have all been challenged above and beyond our normal experiences. Covid-19 and the near shut down of the UK has brought many external influences in to play. We are not alone in this and in some ways very fortunate that our business has been able to adapt more easily than others to quarantine and remote working."

As of 0845 BST, Liontrust shares were up 1.38% at 1,429.50p.