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.
Recommended for you
In this episode of Relative Return, host Maja Garaca Djurdjevic chats with Chris McGibbon, global head of real estate at Nuveen, about the long-term outlook and why the “knife has stopped falling” in property.
In this new episode of The Manager Mix, host Laura Dew speaks to Nick Paul, institutional portfolio manager at MFS Investment Management to delve into everything small and mid-cap equities.
In this episode of Relative Return, host Laura Dew chats with Kellie Wood, head of fixed income and deputy head of fixed income and multi-asset at Schroders Australia, to discuss why fixed income is returning to favour after a 12-year wait.
In this episode of Relative Return, host Laura Dew speaks with Michael Hunstad, deputy chief investment officer and chief investment officer of global equities at Northern Trust Asset Management, to debunk myths around index investing.