DKN revises profit guidance
Phil Butterworth
DKN Financial Group Limited has downgraded its profit guidance for the current financial year.
The company has told the Australian Securities Exchange that recent market volatility has impacted funds under advice and that the overall group had experienced a net reduction in net profit after tax of 10 per cent, with the result that guidance for the six months to June, this year, had been revised down from $5.9 million to $5.3 million.
The company’s announcement said that DKN’s business had been significantly strengthened by the successful completion of the Lonsdale acquisition, which had resulted in the number of core practices accessing DKN’s service doubling from 150 to 300.
DKN chief executive Phil Butterworth said all other aspects of the business were growing.
AUTHOR
Mike Taylor
Recommended for you
In this episode, hosts Maja Garaca Djurdjevic and Keith Ford take a look at what’s making news in the investment world, from President-elect Donald Trump’s cabinet nominations to Cbus fronting up to a Senate inquiry.
In this new episode of The Manager Mix, host Laura Dew speaks with Claire Smith, head of private assets sales at Schroders, to discuss semi-liquid global private equity.
In this episode of Relative Return, host Laura Dew speaks with Eric Braz, MFS portfolio manager on the global small and mid-cap fund, the MFS Global New Discovery Strategy, to discuss the power of small and mid-cap investing in today’s global markets.
In this episode, hosts Maja Garaca Djurdjevic and Keith Ford are joined by special guest Steve Kuper to dive deep into the recent US election results and what they mean for the world.
