Equity Trustees Limited (EQT) has declared an increase in projected half-year profit to the end of 2012, reflecting an increasing operating profit margin and revenue growth.
EQT's net profit after tax is expected to increase between 12 and 15 per cent in the six months to December 31 from the $3.9 million earned previously.
"Whilst the result was achieved by solid performances across the business lines, the improvement in investment markets was helpful," EQT managing director Robin Burns said in a statement.
EQT has recently restructured to an integrated business model in order to focus on the needs of both private individuals and corporate clients.
The company has split the group into two key business units - private wealth services and corporate fiduciary and financial service groups - to provide greater focus on new business initiatives and cross selling.
Mr Burns noted that the business mix was changing and the overall sensitivity of total group revenue to investment market movements had reduced in the most recent periods, although net investment flows and funds under management were still important underlying metrics.
The business restructure saw EQT record a two per cent rise in net profit after tax (NPAT)to reach $8.4 million for the 2012 financial year, despite challenging economic conditions.
At the time of the 2012 full-year results announcement, Mr Burns said despite volatility in the markets, EQT is focused on developing the company long term.
"The challenge of implementing these changes should not be underestimated," he said.
"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.
