Perpetual has been forced to reaffirm its profit forecast for the year in response to a price query by the Australian Securities Exchange (ASX).
The ASX asked Perpetual whether the recent movement in the company's share price was a reason to think there might be a change in its underlying profit after tax by more than 15 per cent compared to the guidance it gave in May.
Perpetual company secretary Joanne Hawkins responded to this question with a short: "No."
On 26 May, Perpetual said it expected underlying profit after tax to be broadly in line with the $72.8 million of last year.
Asked whether Perpetual was aware of any other explanation for the price movement the group responded: "Perpetual notes the comments reported in the media yesterday [27 June] in relation to the role of John Sevior. John Sevior is a valued employee and is taking a six-month leave. Perpetual has in place an experienced team to look after clients in his absence," Hawkins said.
On Monday, The Australian reported star manager Sevior gave his return to the company after his leave of absence a 50/50 chance, saying the takeover negotiations with private equity firm KKR made him reflect on his career.
The share price fell more than 4 per cent to $24.50, compared to a decline of just 0.9 per cent of the S&P/ASX 200 Index.
