Liontrust Asset Management Plc (LIO.L), a British fund manager, on Wednesday reported a pre-tax loss for the full year, due to a decline in revenue, costs related to acquisitions, and impairment.
For the 12-month period to March 31, the company reported a pre-tax loss of 0.579 million pounds, compared with a profit of 49.301 million pounds, posted last year.
This includes charges of 68 million pounds relating to acquisitions against previous year's 37.8 million pounds. Non-recurring costs were at 18.8 million pounds, for the year.
Impairment of intangible asset and goodwill widened to 37.065 million pounds from 12.816 million pounds a year ago.
Excluding items, it reported pre-tax income that slipped to 67.430 million pounds from 87.083 million pounds in 2023.
Net loss stood at 3.490 million pounds or 5.46 pence per share as against previous year's profit of 39.328 million pounds or 61.21 pence per share.
Excluding items, earnings per share were at 79.15 pence per share, lower than 109.78 pence per share last year.
Operating loss was at 1.849 million pounds, versus a profit of 49.026 million pounds a year ago.
Adjusted operating profit moved down to 66.093 million pounds from previous year's 86.725 million pounds.
As of March 31, assets under management and advice were 27.8 billion pounds, lesser than 31.4 billion pounds in 2023.
Revenue was 197.889 million pounds, down from previous year's 243.339 million pounds.
Liontrust will pay a second interim dividend of 50 pence per share bringing the total dividend for the year to 72 pence per share, unchanged from last year's 72 pence per share.
The second interim dividend will be paid on August 9 to shareholders on the register as of July 5.
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