PREMIER MITON GROUP PLC - Interim Results

Premier Miton Group PLC reported a resilient first-half FY2026 investor update, highlighting progress in stabilising assets under management (AUM) and improving investment performance despite challenging market conditions. AUM stood at £9 billion at 31 March 2026 and remained stable through late May, supported by positive market movements offsetting net outflows. The asset manager continued to attract inflows into its fixed income and retirement income franchises, while outflows were primarily concentrated in US and European equity strategies. Management outlined a clear growth strategy focused on enhancing fund performance, strengthening distribution capabilities, and driving operational efficiencies. During the period, Premier Miton appointed a new Head of Global Equities, identified an additional £2.5 million of annualised cost savings on top of a previously announced £5 million efficiency programme, and maintained a strong balance sheet with £24.6 million of cash and surplus regulatory capital of £11.4 million. Financial results reflected lower average AUM, with adjusted profit before tax of £3.0 million and management fee revenue of £26.9 million, partially offset by disciplined cost control and a 16% reduction in administrative expenses. The company’s diversified product offering across fixed income, multi-asset, equities and absolute return strategies continues to generate approximately £3 billion of annual gross inflows, while improving fund performance and a growing sales pipeline across fixed income, infrastructure and thematic multi-asset funds support future growth prospects. The board declared an interim dividend of 1.5p per share and outlined a new dividend policy targeting 75% of adjusted profit after tax, reinforcing its commitment to shareholder returns and long-term value creation.