Liontrust profits more than double to £3.2m

Liontrust Asset Management's profit before tax more than doubled in the six months to the end of September as the group continues to post inflows into its funds.

Profit before tax jumped from £1.3m in the same period last year to £3.2m in the six months to 30 September 2014. Adjusted profit before tax was up 32% from last year's figure at £5.1m. Over the six month period, inflows into the group's funds dropped slightly from the same period last year to £284m, compared to £315m in the equivalent six months of 2013. However, in October the fund manager was awarded a UK equity income segregated mandate worth £314m, which supported the growth in assets under management. At the end of September AUM stood at £3.8bn, up from £3.4bn in 2013. By 7 N...