Troy AM profits climb 25% as AUM nears £10bn

£4.1m paid out to directors

Troy Asset Management saw pre-tax profits grow 25% to £30.3m in the year to 30 April 2017, up from £22.7m the previous year, as its AUM jumped by 37% from £7bn to £9.6bn over the period, new figures published this week reveal.

According to accounts on Companies House, the firm's post-tax profits grew from £18m to £24.2m over the course of the year, as its cash reserves rose to £38.7m from £17.6m a year earlier. The profit growth enabled the firm to pay an interim dividend of 56.8p per ordinary share, up from 43.5p the year before, and a final dividend of 92.2p per share, up from 65.2p. The total dividend paid to shareholders grew from 108.7p to 149p, which is expected to be paid out by 30 April 2018. Terry Smith pockets £8m as Fundsmith profits soar An additional £122,000 was paid out to directors in int...