Financial Results
Liontrust AM's Gross Profit Falls, Logs Statutory Loss

Liontrust made a statutory loss in the six-month period due to a rise in charges linked to acquisitions and restructuring, along with other factors. This year, its attempt to acquire Zurich-listed GAM Holding fell through following resistance from some investors.
Liontrust
Asset Management, the UK-listed firm which was recently
thwarted
in its bid to acquire Switzerland’s GAM Holding, said
yesterday that its gross profit for the six months to 30
September fell 9 per cent year-on-year to £98.6 million ($122
million).
Gross profit excluding performance fees stood at £92.5 million,
sliding by 15 per cent on a year ago, it said in a statement
yesterday.
Adjusted pre-tax profit fell to £36.0 million from £42.9
million.
On a statutory basis, Liontrust made a pre-tax loss of £10.1
million, narrowing from £14.1 million a year before. The figure
included £46.2 million of charges (2022: £28.8 million) relating
to acquisitions and associated restructuring costs (£8.1
million); the non-cash amortisation and impairment of the related
intangible assets and goodwill; and other non-cash and
non-recurring costs (£1.1 million).
The UK firm had £27.7 billion of assets under management and
advice, falling 12 per cent over for the six months ended 30
September 2023.