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Alternative asset management company Litigation Capital Management said it would not pay a final dividend to preserve cash despite reporting higher profit as lower costs helped offset a decline in revenue.
For the year ended 30 June, pre-tax profit grew 61% to A$12.9 million year-on-year, while revenue slipped to A$37.1 million from A$48.4 million.
Total assets under management grew 34% to A$336m.
The company said it took a 'prudent decision' to not pay a year-end dividend payment to preserve cash to meet increase in demand for investments to accelerate growth in our portfolio.