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 were £76.4m, while operating profit was £41.7m over the period. 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. "The money is reinvested into the Woodfo...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
