Troy full-year profits slump 15%

Company says it has no plans to revise strategy

Troy Asset Management’s pre-tax profits slumped by nearly 15% last year, but the firm maintains it is "well financed" and has no plans to change its strategic direction.

The company's full-year results for the 12 months to April 2019 showed pre-tax profits decreased from £35m in 2018 to £30m last year. Cameron Investors Trust to roll over into Troy Income & Growth Overall, turnover fell by over 10% to £73m from £82m in 2018 as the firm derived less income from its investment and advisory fees. While the company said Brexit, and a major fall in the value of equity and bond markets, could have a negative impact on its revenues and profitability going forward, it has no plans to alter its strategic objectives for the future. "The directors of the c...