Liontrust Asset Management, a prominent investment manager in the UK, has announced a pretax loss in the first half of fiscal 2024. The company attributes this loss to one-off charges and an impairment, as well as a significant decrease in assets under management.

In the six months ending September 30, Liontrust Asset Management reported a pretax loss of £10.1 million, a substantial decline from the pretax profit of £12.8 million during the same period the previous year. This loss can be primarily attributed to several factors, including a charge of £46.2 million related to acquisitions and associated restructuring costs, noncash amortization and impairment, and other noncash and nonrecurring expenses.

Furthermore, the company's assets under management saw a considerable decrease, falling from £31.7 billion to £27.65 billion as of September 30.

The decline in revenue has also contributed to their financial difficulties, with revenue dropping to £104.55 million from £116.8 million. As a result, Liontrust Asset Management experienced an operating loss of £10.7 million compared to a profit of £14.1 million.

Despite these challenges, the investment manager remains optimistic about the future outlook for the company. They have declared a stable dividend of 22.0 pence.

It is important to note that Liontrust Asset Management acknowledges the headwinds faced by the asset management industry as a whole, as well as their recent period of net outflows. However, they believe that the company is well-positioned to navigate these challenges and emerge stronger.

Halma Reports Rise in Pretax Profit for H1 2022

Siemens Shares Rise on Strong Q4 Results

Leave A Reply

Your email address will not be published. Required fields are marked *

Related posts

Cracker Barrel Looks to Boost Traffic Amid Sales Miss
News

Cracker Barrel Looks to Boost Traffic Amid Sales Miss

Cracker Barrel reported better-than-expected earnings but fell short of sales forecast. The company aims to improve traf...

Increases in Holdings
News

Increases in Holdings

Caligan Partners increases its stake in Liquidia, a pharmaceutical firm focused on cardiopulmonary diseases, acquiring o...

Nobel Prize in Physics Awards Electron Discoveries
News

Nobel Prize in Physics Awards Electron Discoveries

Three scientists win Nobel Prize for electron discoveries, revolutionizing understanding of electron behavior and paving...

Amazon Prime Day Boosts Stock and Sales
News

Amazon Prime Day Boosts Stock and Sales

Amazon's Prime Day generates high sales, boosting the stock's performance. AWS plays a crucial role in determining the s...