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Perpetual profit nudges up to $68m

Perpetual profit nudges up to $68m

Tim Stewart
— 1 minute read

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.

 

 

Perpetual profit nudges up to $68m
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