Premier Miton profit jumps 82%; hikes dividend

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Fund manager Premier Miton posted an 82% rise in annual profit after fresh fund inflows helped it boost its assets under management.

Pre-tax profit for the year through September increased to £17.5 million, up from £9.6 million year-on-year.

Premier Miton declared a full-year dividend of 10p per share, up 43% year-on-year.

Assets under management rose 31% to £13.9 billion, with net inflows of £830 million, compared to a £619 million outflow year-on-year.

The company said it had achieved a strong investment performance, with 83% of funds in the first or second quartile of their respective sectors since launch or fund manager tenure.

'"Our key strengths of investment excellence, relevant products, powerful distribution, financial position, operating platform, strong culture, and acting responsibly as we move towards a more sustainable future, support our belief that Premier Miton is well positioned for future growth,' chief executive Mike O'Shea said.