Neptune returns to profitability in H1 after 2016 loss

in its annual results for the year to 31 December 2016, the firm had reported an operating loss after bonus payments, in contrast to a profit of £2.7m in 2015. This firm attributed the 2016 loss to a one-off non-cash accounting adjustment of historical intangible assets of £752,000. Meanwhile, it also saw a reduction in assets under management during the year from £4.5bn to £3.7bn. Neptune bolsters adviser distribution efforts This fall in AUM led to a 30% drop in group revenue from £51m to £35m, where positive market movements were offset by outflows, particularly from Mark Mar...