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Liontrust (LIO) investor relations material
Liontrust H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary25 Nov, 2025
Executive summary
Adjusted profit before tax for the half-year was £15.7 million, down 39% year-over-year, with a strong capital position and a £10 million share buyback announced.
Assets under management and advice (AuMA) stood at £22.0 billion as of 30 September 2025, with average AuMA down 17% year-over-year.
Net outflows for the period were £2.3 billion, higher than the prior year.
Two new institutional mandates totaling £250 million were won, with funding expected by year-end.
First interim dividend of 7.0p per share declared, payable on 7 January 2026.
Financial highlights
Gross profit was £63.3 million, down 22% year-over-year.
Revenue margin (excluding performance fees) was 0.56%, down from 0.60% year-over-year.
Administration expenses fell 14%, with compensation costs down 22%.
Adjusted operating margin was 23.8%, down from 30.5% year-over-year.
Net cash position at £46.3 million as of 30 September 2025.
Outlook and guidance
Additional annualised cost efficiencies of £1.5 million to be implemented by June 2026 at a cost of £1 million.
Share buyback programme of up to £10 million to be phased through June 2026.
Management expects a more favorable environment for active managers due to lower expected market returns and increased volatility.
Optimism is supported by recent mandate wins, robust product suite, and strong client engagement.
Focus on organic growth, with acquisitions considered as opportunities arise.
What drives confidence in future net inflows?
How will share buyback impact shareholder value?
What conditions would enable future acquisitions?
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Next Liontrust earnings date
Q3 2026 TU14 Jan, 2026
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Frequently asked questions
Liontrust Asset Management PLC is a publicly owned investment manager. The firm launches equity, fixed income, , multi-asset and managed funds for its clients. Liontrust invests into the public equity and multi-asset markets across the globe. The firm was formerly known as River and Mercantile Investment Management Limited. Liontrust Asset Management Plc was founded in 1994 and is based in London, United Kingdom. Liontrust has been listed on the London Stock Exchange since 1999.
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