DKN revises profit guidance

australian-securities-exchange/chief-executive/

30 April 2008
| By Mike Taylor |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 4 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

5 months ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 6 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 4 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 2 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND