Even with the world in lockdown, it has never been easier to get hold of people’s capital – or so it would seem. Liontrust Asset Management (LIO) recorded net positive inflows of £492m during the first three months of 2020, even as the virus took hold globally. That brought net inflows for the March year-end up to around £2.7bn, a 52 per cent increase on FY2019.
Assets under management and advice (AuMA) were up by 27 per cent in the period under review and have grown by a fifth since the start of the current financial year (1 April through 30 June 2020).
Post period-end, Liontrust announced the proposed acquisition of Architas-Multi Manager Ltd and Architas Advisory Services Ltd for up to £75m, which will bring AuMA up to around £25bn on completion, an increase of £5.7bn from the existing level.
The rise in revenue mirrored the increase in AuMA, but statutory profits came up short on the prior year due to £9.7m of acquisition and ancillary costs incurred through the takeover of Neptune Investment Management Ltd, which completed in October 2019.
LIONTRUST ASSET MANAGEMENT (LIO) | ||||
ORD PRICE: | 1,400p | MARKET VALUE: | £848m | |
TOUCH: | 1,400-1,405p | 12-MONTH HIGH: | 1,495p | LOW: 678p |
DIVIDEND YIELD: | 2.4% | PE RATIO: | 57 | |
NET ASSET VALUE: | 146p* | NET CASH: | £34.5m** |
Year to 31 March | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
2016 | 45.0 | 9.40 | 16.5 | 12.0 |
2017 | 51.5 | 9.10 | 15.2 | 15.0 |
2018 | 76.9 | 12.3 | 17.8 | 21.0 |
2019 (restated) | 97.6 | 22.2 | 40.0 | 27.0 |
2020 | 124 | 16.5 | 24.7 | 33.0 |
% change | +27 | -26 | -38 | +22 |
Ex-div: | 16 Jul | |||
Payment: | 21 Aug | |||
*Includes intangible assets of £57.6m, or 95p a share. **Includes lease liabilities of £5.8m. |