Clime Investment Management Limited has announced a strong 2019 financial year result after what its chief executive called a transformative year.
Clime recorded an underlying cash profit of $3.22 million, up 46 per cent from the prior corresponding period and a statutory profit after tax of $1.46 million, up 37 per cent from the prior corresponding period.
In the same year total assets under management grew by 8.1 per cent to $924 million, an increase of $69 million.
Clime’s CEO Rod Bristow said the results were pleasing in a transformation year for the managers.
“We launched tailored Private Wealth Advisory services for wholesale and sophisticated investor clients and commenced supporting financial advisers nationally with access to Clime’s high-quality investment solutions,” said Mr Bristow.
“These new business initiatives are adjacencies to our traditional core business and diversify our income streams as well as widen the revenue base.”
Directors have declared a fully franked final dividend of 1.5 cent per share, bringing the total financial year dividend to 2.25 cents per share.
Mr Bristow will update investors and shareholders further on the full-year results and an update on the company’s strategy in early September.
Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).
You can email him on: [email protected]