Neil Woodford’s UK boutique generated an operating profit of £35.4 million in the year to March 2016, nearly triple the £12.1 million made in the previous 11 months — the company’s first reporting period.

According to accounts for Woodford Investment Management, filed with Companies House on December 21, Neil Woodford received £7.2 million of the more than £11 million distributed to the firm's members. Chief executive Craig Newman collected the remaining £3.9 million. A spokesman confirmed the split was 65/35 in favour of Woodford.