Woodford Investment Management has announced total profits for the year to the end of March 2018 of £33.7m, according to the latest accounts posted on Companies House.
The group reported gross profits for the year to 31 March 2018 was £76.4m, while operating profit climbed from £22.9m in 2017. This meant a total profit, after tax, for the year stood at £33.7m, while revenue hit £78m. However, total assets were down from £16.5m on 31 March 2017 to £12.7m on 31 March 2018, amid a period of tough performance for manager Neil Woodford's funds. A spokesperson at Woodford said: "Profits are transferred into Woodford Capital to enable Woodford Investment to invest excess balance sheet cash of the limited company. Woodford to face High Court grilling ...
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