Wilson HTM Investment Group (Wilson) is expecting a loss for the six months to December 31 on the back of poor market conditions and company restructuring.
In a statement on the Australian Stock Exchange, Wilson announced that it anticipates a loss after tax attributable to shareholders in the range of $2.2-3.2 million over the end of this year.
"Current market conditions remain challenging, with low levels of liquidity and significant uncertainty," Wilson said in a statement.
The company has said its loss of profitability reflects a lower fixed-costs structure for the capital market and wealth management businesses, and tighter operational controls.
With weak market conditions and sustained volatility in the 2012 financial year, Wilson is remaining cautious about its outlook for the full 2013 financial year.
"These conditions have delayed corporate equity raisings and meant that investors have been increasingly cautious, leading to lower brokerage volumes," Wilson said.
"Notwithstanding, if the environment experienced in the 2012 financial year continues, this is likely to result in further loss for the 2013 financial year and a reduction in cash and principal investments."
Despite this, projections as of October 31 estimated total funds under management (FUM) for the full 2013 financial year were expected to climb to $12.3 billion from $11.4 billion recorded last financial year.
Wilson also attributes its current losses to company restructuring designed to reduce the fixed costs and increase sustainable growth.
The company have appointed The Channel Group to review their board composition and will look to board succession at the end of the 2013 financial year.
At the close of the 2012 financial year, Wilson reported a loss after tax of $7.6 million, despite citing progress in reducing its cost base.
