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Liontrust Asset Management profit falls in H1 on higher costs; hikes dividend
StockMarketWire.com
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Fund management group Liontrust Asset Management upped its dividend despite profit falling by more than a quarter in the first six months of its fiscal year on higher costs.
For the six months ended 30 September 2020, pre-tax profit fell 26% to £6.9 million year-on-year, while revenue rose to £75.8 million from £53.1 million.
Assets under management and advice were £20.6 billion, an increase of 41% compared to AuMA on 30 September 2019.
The fall in profit included costs of £15.4 million, up from £7.7 million, relating to acquisition-related and associated restructuring costs, the company said.
The company acquired Architas UK Investment Business on 30 October.
The interim dividend per share was raised 22% to 11.0 pence a share.
At 8:00am: (LON:LIO) Liontrust Asset Management PLC share price was 0p at 1345p
Story provided by StockMarketWire.com
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