Mercia Asset Management PLC (AIM:MERC) showcased continued growth trajectory in the first half, with assets under management (AuM) increasing more than 13% year on year to £1.84 billion, underpinned by strong third-party fund inflows.
Third-party funds under management at the regionally focused asset manager grew by approximately 31% to £1.65 billion, with no redemptions reported during the period.
First-half revenues reached £17.9 million, reflecting a year-on-year increase of 19%, primarily driven by higher management fees and investment activity, while profit before tax surged from £1.4 million to £2.4 million.
Mercia declared an interim dividend of 0.37 pence per share, representing a 6% increase from the prior year’s dividend.
Chief executive Mark Payton stated: "Mercia has delivered another strong first-half performance with our higher funds under management and EBITDA growth.
“I am pleased to say that none of the tax changes announced in the Government's Autumn Statement impact Mercia's growth ambitions."
The interim report also highlighted Mercia’s diversified portfolio, including its ventures, debt, private equity, and proprietary capital segments.
During the period, Mercia's direct investment portfolio was valued at £121 million, with net investments totalling £3.9 million across four companies.