Liontrust to pay first divi since 2009 as AUM doubles

Liontrust Asset Management is to pay its first dividend since December 2009 after reporting a leap in full-year profits and a doubling of assets under management in the year to 31 March.

Reporting full-year results, the group said adjusted profit before tax rose to £3.8m, ahead of forecasts and up from £1m in the previous period, with assets under management rising from £1.5bn to £3bn. That in part reflects the acquisition of Walker Crips Asset Managers but also net inflows of £514m on the year, up from £152m in 2012. AUM rose further to £3.3bn as of 17 June, the group added. Revenues rose 49% to £20.3m; the group said it would pay an interim dividend of 1p per share on 26 July. "This growth in assets is in no small part due to the extensive restructuring of previo...