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Highlights:

  • LIO’s adjusted profit before tax for FY25 declined to GBP 48.3 million from GBP 67.4 million in FY24.
  • The company’s assets under management and advice (AuMA) declined to GBP 22.6 billion from GBP 27.8 billion YoY.
  • LIO maintained its full-year dividend at 72 pence and introduced a new capital return strategy featuring share buybacks.

Liontrust Asset Management Plc (LSE: LIO) is a UK-based investment management company that designs, manages, and markets a range of actively managed equity, fixed income, sustainable investment, and multi-asset portfolios for institutional, intermediary, and retail investors.

The company has released its full-year financial results for the 12 months ended 31 March 2025, reflecting a year of subdued profitability and reduced assets under management, though the company is reinforcing shareholder confidence through a stable dividend and a revised capital allocation strategy.

The Group reported gross profit of GBP 157.7 million, down from GBP 186.1 million in FY24, primarily impacted by a reduction in performance fees, which dropped to GBP 3.6 million from GBP 10.4 million in the previous year. The revenue margin declined slightly to 0.60% YoY from 0.62% YoY.

Adjusted profit before tax came in at GBP 48.3 million, a significant decline from the GBP 67.4 million reported last year. Adjusted diluted earnings per share (EPS) also fell to 56.8 pence, compared to 79.2 pence in FY24. However, the company returned to statutory profitability, recording GBP 22.3 million in statutory profit before tax after reporting a small statutory loss of GBP 0.6 million in the prior year.

Liontrust’s Assets under Management and Advice (AuMA) stood at GBP 22.6 billion as of 31 March 2025, a decrease from GBP 27.8 billion a year earlier. The company noted a modest increase to GBP 22.7 billion by 17 June 2025, but the year-on-year decline reflects challenging investment conditions and outflows across the sector.

Despite the drop in profits, the full-year dividend was held steady at 72 pence per share, underscoring the Group’s continued commitment to shareholder returns. Looking forward, Liontrust announced a new Capital Allocation Policy, setting a minimum dividend payout ratio of 50% of Adjusted diluted EPS and committing to return excess capital via share buybacks. This strategic shift aligns the company’s financial management with long-term value creation and improved capital efficiency.

The company delivered around GBP 6.0 million in annualised cost efficiencies during the period, part of a wider effort to align the operating structure with the current scale of the business and changing market dynamics.