Woodford IM makes £11.4m first year profit

The accounts for the company, set up by one of the UK's best-known fund managers Neil Woodford (pictured) last year, cover the period from 15 January 2014 (date of incorporation) to 31 March 2015. Total revenues were £27.5m for the period while the cost of sales was -£618,000. Operating profit before members' remuneration and profit shares was £12.1m, with members' remuneration charged as an expense of £733,000. Total profits for the period available for discretionary division among members were £11.4m. Members who held office during the period were Woodford, CEO Craig Newman, C...