Miton Group Plc – Final Results

Miton Group Plc – Final Results

Miton Group plc, the AIM quoted asset management group, today announces its final results for the year ended 31 December 2018.

2018 Results

  • £4,376 million closing Assets under Management (‘AuM’), up from £3,823 million at the start of 2018 (+14%)
  • £1,019 million net inflows (2017: £494 million) (+106%)
  • Average AuM was £4,369 million (2017: £3,361 million) (+30%)
  • Adjusted profit before tax increased by 34% to £9.2 million (2017: £6.8 million)
  • £25.5 million of net cash as at 31 December 2018 (2017: £19.9 million)
  • A total of 5,502,180 ordinary shares of 0.1p each in the Company (‘Ordinary Shares’) acquired and cancelled during the Year at a cash cost of £2.6 million (2017: 15,152,963 Ordinary Shares)
  • Proposed dividend of 2.0p (+43%) and the introduction of an interim dividend in 2019 

Fund highlights

  • 81% of funds are first or second quartile1 (2017: 87%; 2016: 86%)
  • The equity fund range grew by 27% to end the year at £3,015 million (2017: £2,379 million)
  • LF Miton UK Multi Cap Income Fund continued to see strong demand ending the Year with £1,265 million of AuM (+25%)
  • LF Miton European Opportunities Fund celebrated its three-year anniversary in December and is the best performing fund in the IA Europe sector over three years and since launch. The fund saw net inflows of £210 million in the Year growing its AuM to £364 million at the year end (+101%)
  • LF Miton US Smaller Companies Fund was launched in March and finished the Year as the second-best performing fund in the IA US Smaller Companies sector since inception. The fund gained strong traction and contributed to the aggregate AuM being managed by the US team which ended the Year at £626 million (+64%)

Current Trading

  • £4,565 million unaudited closing AuM at 28 February 2019
  • Neutral net flows for the year to date

David Barron, Chief Executive Officer of Miton, said:

“2018 was a year of positive progress for Miton. Record net flows of just over £1 billion demonstrated the appeal of strategies that are genuinely active. We have continued to broaden the business as evidenced by the strong growth in our newer funds. 

We are confident that we can maintain our longer-term momentum, despite the subdued markets in the short term.  

Overall, the strength of our strategies, the effectiveness of our distribution and our scalable platform, supported by our robust financial foundations, give us confidence in Miton’s future.”

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