Liontrust Asset Management Plc’s shares jumped more than 12% on Wednesday following the release of its full‑year results for the financial year ended 31 March 2026. The asset manager posted an adjusted operating margin of 24%, surpassing the consensus estimate of 23.3%, which the market cited as the primary catalyst for the price gain.
Revenue‑related metrics showed a decline: gross profit fell to £123 million from £157.7 million in the prior year, and adjusted profit before tax decreased to £30.5 million from £48.3 million. Adjusted diluted earnings per share contracted to 36.7 pence, down from 56 pence a year earlier. Statutory profit before tax was £14.4 million, also lower than the £22.3 million recorded in 2025.
Flow figures indicated a slowdown in net outflows. Net outflows for the full year amounted to £4.18 billion, while outflows narrowed to £276 million in the most recent quarter. During the quarter to 19 June, gross institutional inflows exceeded £500 million, reflecting an improvement in client cash movements.
Assets under management and advice stood at £19.55 billion as of 31 March, down from £22.59 billion at the start of the financial year, highlighting the impact of outflows on the balance sheet.
The board declared an interim dividend of 12 pence per share, bringing the total dividend for the year to 19 pence per share.
In parallel, Liontrust confirmed the proposed acquisition of River Global Holdings Limited, which held £2.96 billion of assets under management and advice as of 19 June. The acquisition is expected to close on 30 June 2026, and the company said the deal will further diversify its business.
Chief Executive Officer John Ions said the improvement in flows over the past nine months reflects the expansion of Liontrust’s international distribution and a broader client base. Non‑executive chair Luke Savage expressed confidence in the outlook, praising the recent changes and developments.