Liontrust Asset Management posts drop in full-year profits, keeps divi stable

Liontrust Asset Management posted lower full-year profits but the dividend payout was steady even as the firm looked to expand.

"The business is in strong health despite the challenges of the past year and we are seeking to build on this through the proposed acquisition of GAM Holding AG to accelerate the strategic aims of Liontrust becoming a specialist global investment manager," the firm's boss, John Ions, said.

"Growing a business is never a smooth line upwards as we have seen recently. The opportunities for Liontrust are clear, however, and we are confident that we have the investment capability, distribution, brand, business processes and commitment to take advantage of them."

For the year ending on 31 March, the specialist fund management group reported a 10% drop in its adjusted profit before tax to reach £87.1m or a 31% drop to £49.3m in unadjusted terms.

Earnings per share meanwhile printed at 109.8p or down by 14%.

In parallel, the firm posted full-year net outflows of £4.8bn, in comparison to £2.5bn of inflows during the preceding year.

Assets under management and administration as of 16 June stood at £30.5bn.

A second interim dividend of 50.0p per share was announced, taking the total payout for the year to 72.0p., which was unchanged from the year before.

As of 0941 BST, shares of Liontrust were dropping by 2.21% to 751.50p.