Liontrust posts £4.5m loss as restructuring takes its toll

Liontrust has posted a net loss of £4.5m for the year to 31 March 2011.


Assets under management stood at £1.3bn on 31 March 2011, up from the £1.1bn recorded a year previous, though UK retail inflows remained flat over the course of the year as a whole as a result of the £56m in net outflows recorded between 1 April and 30 June 2010.

The firm recorded an adjusted loss before tax of £1.7m for the financial year, versus a pre-tax profit of £800m in the year to 31 March 2010. The net loss of £4.5m compared with £1.1m of net profit in 2010.

"Liontrust has undergone an extensive restructuring programme over the past 14 months,” said chief executive John Ions, who noted that net sales of £81m for the financial year represented the first such positive figure for seven years.

"The restructuring has come at a one-off financial cost, however, with a consequential impact on Liontrust’s profitability. Nevertheless, the group believes the changes have been crucial in turning around the fortunes of the business and will have a significant long-term benefit for the company and its shareholders."


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