Business
Full Year Results
Full Year Results.
About this update from Premier Miton Group Plc
[{"type":"text","content":"\n\nEmbargoed until 7.00am 5 December 2023\n \nPREMIER MITON GROUP PLC\nFULL YEAR RESULTS FOR THE YEAR ENDED 30 SEPTEMBER 2023\n \nRobust investment performance despite market volatility.\n \nPremier Miton Group plc ('Premier Miton', 'Company' or 'Group'), the AIM quoted fund management group, today announces its final results for the year ended 30 September 2023.\n \nHighlights \n \n· £9.8 billion closing Assets under Management 4 ('AuM') (2022: £10.6 billion)\n· Strong investment performance with 73% of funds in the first or second quartile of their respective sectors since launch or fund manager tenure\n· Net outflows of £1,147 million for the year (2022: £1,076 million outflow)\n· Adjusted profit before tax 1,4 of £15.7 million (2022: £24.3 million) \n· Adjusted earnings per share 2,4 of 8.80 pence (2022: 13.79 pence)\n· Profit before tax 3 of £5.9 million (2022: £14.9 million)\n· Cash balances were £37.9 million at 30 September 2023 (2022: £45.8 million)\n· Final proposed dividend of 3.0 pence per share (2022: 6.3 pence per share)\n· Total proposed dividend for the year of 6.0 pence per share (2022: 10.0 pence per share)\n· Significant continued investment in fund management and distribution talent to help create a modern, active asset management business positioned for future growth\n \nPost period end\n· On 1 November the Group announced the acquisition of Tellworth Investments LLP, a leading UK equity boutique with AuM of £559m as at 30th September 2023\n· Tellworth offers both long/short and long only strategies to wholesale and institutional clients with potential for institutional distribution, building on Premier Miton's developing presence in that market\n· A continued focus on inorganic opportunities alongside our clear organic growth strategy\n \n \nNotes\n(1) Adjusted profit before tax is calculated before the deduction of taxation, amortisation, share-based payments, merger related costs and...