Miton eyes further acquisitions after rush of deals

Miton has refused to rule out further acquisitions after its revenues jumped in the first half of 2014 following a spate of deals.

The firm's half-year results, issued today, saw Miton report a rise in adjusted pre-tax profit from £1.8m to £3.4m. However, it sustained a half-year loss of £10m after the elimination of £16m of goodwill and intangibles following its sale of its Liverpool business. Revenue was up from £6m to £9.6m, in part due to its acquisition of PSigma Asset Management last year. The firm, which bought Darwin IM in June and also agreed to buy the Matterley Undervalued Assets fund from Charles Stanley in September, said it remains on the look out for acquisitions. "We are always on the lookout f...