BTIM lifts profit 27 per cent
BT Investment Management has reported a strong full-year result, with net profit after tax up 27 per cent to nearly $21.4 million.
In an announcement released to the Australian Securities Exchange today the company said the outcome reflected the consolidated profit result of J.O Hambro Capital Management.
Commenting on the result, BTIM chief executive Emilio Gonzalez said it had been a transformational year for the company, with a number of key initiatives shaping the group into a larger diversified business attracting positive fund flows in core distribution channels over the year.
He said the company's strategy had been to expand its investment capabilities for growth and diversification by growing its exposure in the wholesale market and leveraging the competitive advantage that flowed from being part of the Westpac Group.
"The business today is now far more diversified than 12 months ago across revenue, clients, geography and asset classes," Gonzalez said.
Looking over the horizon, the BTIM CEO said the industry had experienced significant headwinds in the face of an uncertain global environment, with investors continuing to exercise extreme caution - resulting in industry outflows domestically.
However he said that despite these headwinds, the business was in "a very strong position to respond, given its global diversity of revenue, multiple investment capability and financial strength".
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