Buoyant investment markets have helped Perpetual post an increased net profit after tax for the half-year.
Perpetual's net profit after tax for the first half of 2017-18, reported to the market yesterday, was up 3 per cent to $68.1 million.
It will be the last result for chief executive and managing director Geoff Lloyd, who will leave the company in June 2018 (as reported in November 2017).
Perpetual's revenue was up 6 per cent on the previous first half to $266.8 million. The board will pay a fully franked dividend of 135 cents per share, up 4 per cent on the prior corresponding period.
Perpetual Private (which targets high net worth professionals such as medical specialists) saw its pre-tax profit jump 24 per cent to $23.1 million, and Perpetual Corporate Trust was up 18 per cent to $19.8 million.
However, Perpetual Investments edged down slightly with a pre-tax profit of 58.1 million (down $0.7 million from the previous half).
“We are long term value investors and we look to provide value for our clients across a range of strategies including our highly regarded Australian Equities, Multi Asset, Credit and Fixed Income, and Global Equities products," said Mr Lloyd.
"We have a proven approach, a respected brand and a quality investment team focused on performing," he added.
BetaShares has established what it calls the first UK-focused ETF on the ASX, tracking Britain’s sharemarket benchmark, the FTSE 100. ...
The regulatory landscape has fundamentally changed since the Hayne royal commission and entities must engage with regulators in new ways in ...
Perpetual Investment has recorded net outflows of $1.1 billion for the fourth quarter of 2019, while its funds under management fell by $300...