Liontrust Asset Management has posted an adjusted pre-tax profit of £14.6m for the year ended 31 March 2016, up 21% from £12.1m in the prior year.
Pre-tax profit was £9.4m, a surge of 29% compared to £7.3m a year ago. The company said this included costs of £5.2m related to the amortisation of the related intangible asset as well as other non-cash and non-recurring costs.
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The group generated revenue of £45m during the period, a 22% jump from £37m in 2015.
The company’s total assets under management stood at £4.8bn at the end of March, a 7% rise from £4.5bn a year earlier.
Asset ManageLiontrustment has reported net inflows of £255m for the year to 31 March 2016, compared to £667m a year ago.
The firm also announced in its results statement that Adrian Collins will step down from the role of executive chairman to become non-executive chairman on 13 September 2016.
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By GlobalDataLiontrust Asset Management CEO John Ions said: "We have delivered another year of growth for our shareholders, both through the continued expansion of the business and our financial results. Our revenues rose by 22% over the last financial year, adjusted profit before tax increased by 21% and assets under management climbed to £4.8 billion. These achievements have enabled us to declare a second interim dividend per share of 9.0 pence.
"We broadened further our fund management capability during the financial year through the new Global Equity team and doubling the size of the Economic Advantage team. We have also agreed to acquire the European Income Business of Argonaut Capital Partners LLP, which would take our AuM above £5 billion and extend our equity income proposition even further."
