- Miton Group booked a 44% increase in annual profit as its assets under management swelled.

Pre-tax profit rose to £6.2m, up from £4.3m, as assets under management rose by 32% to £3.82bn.

The company declared dividends for 2017 of 1.40, up 40% on-year.

'We continue to diversify the base of the business where we emphasise the complementary nature of our products to the growing passive investment market,' chief executive David Barron said.

'We recognise that we now operate in a more regulated environment and welcome the opportunity to exhibit best-in-industry practices in adopting new regulation.'

'The board and senior executive group are encouraged by the current progress of the group and are ambitious to capitalise on this to grow the business further.'

'I look forward to working with my new colleagues, across all areas of the business, to build on the solid achievements made in 2017 and to deliver future value for our shareholders.'

At 8:10am: [LON:MGR] Miton Group Plc share price was +3p at 42p

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