Update: Liontrust's shares climb as annual profit jumps 21%

Adrian Collins becomes non-exec chairman

Liontrust's shares moved higher in early trading following annual results that revealed adjusted profit before tax increased by 21% for the year ended 31 March, despite lower inflows compared to last year.

Its adjusted profit before tax came in at £14.6m, up from £12.1m in 2015, while revenues grew by 22% to reach £45m, up from £37m in 2015. However, the firm saw net inflows for the year fall by £412m compared to the previous year, from £667m to £255m. Meanwhile, the firm's assets under management increased by 7% to reach £4.8bn, up from £4.5bn, following the introduction of a global equity team and the acquisition of two funds from Argonaut Capital. John Ions (pictured), chief executive of Liontrust, told Investment Week: "This is a period that has seen uncertainty surrounding the G...