Mercia AM sees pre-tax profit rocket by 35% in half-year results

Interim dividend has trebled

Specialist asset manager, Mercia Asset Management, has seen its revenue rise 20.7% to £10.1m in the six months to the end of September.

According to the firm's interim results, net assets also increased from £149.9m in the first half of its 2021 financial year, to £186.4m in the interim six-month period.  Pre-tax profit increased 35.2% to £11.2m, while adjusted operating profit more than doubled to £2.4m.  The firm has announced and interim dividend of 0.3p per share, which is said was "underpinned by strong growth in profits and net assets per share". Tavistock assets boosted by sale of wealth arm Its assets under management is now £948m, up from £872m in the first half of 2021, while total third party funds un...