Liontrust Asset Management H1 profits triple as revenues soar
Fund manager Liontust Asset Management said on Wednesday that interim profits had tripled as revenues soared throughout the half.
Liontrust said pre-tax profits came to £31.1m in the six months ended 30 September, more than 300% higher than the £6.9m reported in the same period a year earlier.
Revenues were up 66% to £114.9m as assets under management and administration rose 15% to £35.66bn, boosted by £2.09bn in net inflows and £2.64bn from a strong investment performance.
As a result, Liontrust opted to double its interim dividend to 22.0p from 11.0p, stating it was confident about further growth over the coming months.
As of 1255 GMT, Liontrust shares were up 9.70% at 2,243.38p.