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Mercia Asset Management PLC - regionally focused specialist asset manager – Assets under management end March 31 at GBP959.2 million versus GBP939.9 million at the same point a year prior. Third-party funds under management slip to around GBP758 million from GBP764 million.
Annual pretax profit falls to GBP27.4 million from GBP34.0 million, and revenue slips to GBP23.2 million from GBP23.4 million.
Declares final dividend of 0.5 pence, giving a total dividend of 0.8p, rising from 0.4p a year earlier.
"Given the strength of Mercia's business model and its excellent cash position, the board's objective remains to maintain this progressive policy," it says.
Chief Executive Mark Payton adds: "I am pleased to share a set of results that showcase the strength and maturity of Mercia and its business model. The significant success that we have seen during the last two financial years, and our positive future prospects, have been made possible by the combined efforts of everyone connected with Mercia."
Current stock price: 30.00 pence, up 4.4% on Tuesday
12-month change: down 18%
By Paul McGowan; paulmcgowan@alliancenews.com
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