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Investing.com -- Liontrust Asset Management (LON:LIO) reported a 28% drop in adjusted profit before tax to £48.3 million for the year ended 31 March, down from £67.4 million the previous year, as assets under management and advice (AuMA) fell by £5.2 billion amid continued investor outflows.
Shares of the British fund management company were down 2.4% at 03:35 ET (07:35 GMT).
Gross profit declined to £157.7 million from £186.1 million, while the revenue margin narrowed to 0.60% from 0.62%, according to the company’s full-year results published 25 June 2025.
Statutory profit before tax was £22.3 million, reversing a £0.6 million loss in 2024. Adjusted diluted earnings per share dropped to 56.8p from 79.2p.
AuMA stood at £22.6 billion as of 31 March 2025, down from £27.8 billion a year earlier. Net outflows totaled £4.9 billion for the period, including £4.3 billion from U.K. retail funds and model portfolio services.
The company said market and investment performance contributed an additional £328 million decline. As of 17 June 2025, AuMA was £22.7 billion.
Despite the fall in earnings, the board declared a second interim dividend of 50.0p, bringing the full-year payout to 72.0p, unchanged from 2024.
A new Capital Allocation Policy will target a minimum payout of 50% of adjusted diluted EPS and include share buybacks.
Liontrust reported annualised cost savings of around £6.0 million, achieved through reductions in roles and outsourcing.
Administration expenses fell to £137.6 million. Staff-related costs were £71.8 million, and non-staff expenses totaled £65.8 million, including £13.7 million in professional and restructuring fees.
Cash and cash equivalents dropped to £75.9 million from £104.3 million. Net cash generated from operating activities was £20.6 million.
Financing activities used £52.4 million, including £46 million in dividends and £5.1 million in share buybacks.
The firm launched new funds during the year, including the GF Global Alpha Fund and GF Pan-European Dynamic Fund, and introduced international versions of the Global Dividend and Global Innovation strategies.
Liontrust also appointed a new Head of Global Distribution and expanded into Switzerland, the Middle East and Asia.
Operationally, the company overhauled its infrastructure by adopting BlackRock’s Aladdin platform and outsourcing trading and data services to BNY.
These changes, it said, improved execution and data management while reducing costs.
CEO John Ions cited market challenges, including concentration in mega-cap stocks and a shifting investment environment, but said the company is positioned for growth through its brand, fund range, and client relationships.