- Fund manager Premier Miton booked a 31% rise in first-half underlying profit and said its merger integration was progressing ahead of target.

Underlying profit at the company, formed from the merger of Premier Asset Management and Miton Asset Management, for the six months through March increased to £12.2m, as revenue rose 39% to £33.4m.

Reported pre-tax profit fell 26% to £5.3m and included one-off acquisition expenses.

The company's assets under management rose 35% to £9.1m, though it experienced £389m of net outflows.

'I am pleased to announce that we are ahead of target with the integration of our two highly regarded companies,' chief executive Mike O'Shea said.

'It has been a period of considerable change and challenge but despite this, we continue to build a scalable platform for growth.'

At 9:03am: [LON:PMI] Premier Miton Group PLC share price was +1.5p at 101.5p

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