(Alliance News) - Liontrust Asset Management PLC on Wednesday reported swelling annual earnings after a strong year of growth for the money manager.
A second interim dividend of 36.0 pence per share was proposed by the trust, up from 24.0 pence a year previously. The payout brings the total dividend for the year ended March 31 to 47.0 pence a share, an increase of 42% from 33.0 pence the year before.
Shares in Liontrust, a FTSE 250 member, were up 1.8% to 1,660.00 pence in London.
The London-based asset manager posted pretax profit of GGBP34.9 million, a sharp rise from GBP16.5 million the prior year.
Revenue for the year rose 55% year-on-year to GBP175.1 million from GBP113.1 million.
"I am proud of the way Liontrust and our colleagues have performed over the past year, rising to the challenges and continuing to deliver excellence across the business for our clients," commented John Ions, Chief Executive.
At year-end, assets under management and advice were GBP30.93 billion, up 92% from the year's opening.
Looking ahead, Liontrust said it had "strong momentum and is well positioned to continue growing". It highlighted investment in digital services to try and improve engagement with investors going forward.
"We have maintained our high-quality service and communications over the past year, providing valuable and useful insights to clients and investors, and the Liontrust brand has become stronger year-on-year," the company said.
By Will Paige; willpaige@alliancenews.com
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