Perpetual posts $64.4m half-year profit

By Reporter
 — 1 minute read

Perpetual has announced a net profit after tax of $64.4 million for first half of the financial year, up 10 per cent on the six months to 31 December 2014.

Sydney-based investment house Perpetual has weathered tough equity markets and "low investor confidence" to post an increased net profit after tax of $64.4 million for the first half of the financial year.

The largest contribution to the result was made by the Perpetual Investment division, which posted a net profit before tax of $57.2 million for the first half – down 5 per cent on the prior corresponding period.


This was "driven largely by the decline in equity markets which offset the positive net inflows in the period and outperformance of the funds", said the company.

Perpetual Private's profit before tax was $17.2 million (down 9 per cent), and Perpetual Corporate Trust contributed $16.6 million before tax (up 16 per cent on the prior corresponding period).

Perpetual has also announced a fully franked dividend of 125 cents per share, up 9 per cent on the prior corresponding period.

The group's chief executive officer and managing director Geoff Lloyd described the result as "solid".

"Importantly we continue to invest in our strategic Lead & Grow initiatives while also increasing our dividend to shareholders," Mr Lloyd said.

"We are operating in a volatile and challenging external environment and it has been critical to focus on what we can control – our client focus, prudent expense management and disciplined implementation of our investment program."

Read more:

Hunter Hall LIC profit down 88%

Monash Investors launches LIC

Foreign investors remain elusive: report

‘Fear’ should not drive investment strategies

Plato IM appoints senior portfolio manager

The must-attend event for financial advisers is back in 2022: the ESG Summit, coming to Sydney and Melbourne in February. Walk away with vital knowledge on a number of key ESG areas to help you make informed ESG strategy decisions and to better communicate and integrate the growing ESG space to clients. Visit the website to secure your place.


Perpetual posts $64.4m half-year profit
investordaily image
ID logo


related articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.