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EQT profit up despite volatile market

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By Rachael Micallef
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2 minute read

Equity Trustees Limited (EQT) has recorded a 2 per cent rise in net profit after tax (NPAT) for the 2012 financial year, amid challenging economic conditions.

The company's NPAT now stands at $8.4 million for the 2012 financial year following a business restructure to address industry changes. 

EQT Managing director Robin Burns said that despite volatility in the markets, EQT is focused on developing the company long-term.

"The company remains strong financially, with no debt on the balance sheet and healthy cash flow," Mr Burns said. "We expect to continue to see volatile market conditions for some time.

Despite this, we have demonstrated over recent periods the ability to generate organic business growth in circumstances where many competitors or peers have struggled." EQT had recently restructured to an integrated business model in order to focus on the needs of both private individuals and corporate clients.

Mr Burns said that while these changes will take several years to be fully felt, they were important for the overall growth of EQT.

"The challenge of implementing these changes should not be underestimated. they spring from our history and values and consequently are a natural progression for the business, rather than a dramatic change in emphasis or direction," he said.