Woodford IM reports £33.7m profit despite assets fall

Amid tough period for fund performance

Jayna Rana
clock • 2 min read

Woodford Investment Management has announced total profits for the year to the end of March 2018 of £33.7m, according to the latest accounts posted on Companies House.

The group reported gross profits for the year to 31 March 2018 was £76.4m, while operating profit climbed from £22.9m in 2017. This meant a total profit, after tax, for the year stood at £33.7m, while revenue hit £78m. However, total assets were down from £16.5m on 31 March 2017 to £12.7m on 31 March 2018, amid a period of tough performance for manager Neil Woodford's funds. A spokesperson at Woodford said: "Profits are transferred into Woodford Capital to enable Woodford Investment to invest excess balance sheet cash of the limited company. Woodford to face High Court grilling ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Autumn Budget 24: Reeves sets 20% IHT rate on AIM shares

Autumn Budget 24: Reeves sets 20% IHT rate on AIM shares

Chancellor unveils 50% relief

Cristian Angeloni
clock 30 October 2024 • 1 min read
Cash in Conversation: A poll for financial advisers

Cash in Conversation: A poll for financial advisers

Professional Adviser
clock 29 October 2024 • 1 min read
The challenges and opportunities for active managers

The challenges and opportunities for active managers

'We believe good active managers always have a place in a portfolio'

Darius McDermott
clock 29 October 2024 • 5 min read