Neptune returns to profitability in H1 after 2016 loss

Hurt last year by Brexit outflows

Neptune Investment Management has seen a recovery in profits in the first half of the year after reporting an operating loss of £62,000 in 2016.

in its annual results for the year to 31 December 2016, the firm had reported an operating loss after bonus payments, in contrast to a profit of £2.7m in 2015. This firm attributed the 2016 loss to a one-off non-cash accounting adjustment of historical intangible assets of £752,000. Meanwhile, it also saw a reduction in assets under management during the year from £4.5bn to £3.7bn. Neptune bolsters adviser distribution efforts This fall in AUM led to a 30% drop in group revenue from £51m to £35m, where positive market movements were offset by outflows, particularly from Mark Mar...