Fiducian turns in strong half
Publicly-listed financial services group Fiducian Portfolio Services had turned in a strong first half, reporting a consolidated after-tax profit of $1.690 million for the six months ended 31 December, up from $1.067 in the previous period.
Commenting on the result, Fiducian managing director Indy Singh said the company had embarked on a series of cost-cutting and cost-recovery measures and these had supported the profit growth.
The directors have voted to pay an interim fully franked dividend of 3.40 cents per share.
Discussing the dynamics of the business, Singh indicated the company remained in the market for financial planning acquisitions.
"In the past year, we have acquired two client bases and allocated around $800,000 of cash — the full benefits of these acquisitions are still to be realised in the results but will occur over time," he said.
Singh said Fiducian Business Services was starting to build steady volumes through its accountancy resourcing division, with a second accounting practice having been acquired in November.
Recommended for you
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.
In this episode of Relative Return, host Maja Garaca Djurdjevic chats with Robin Tsui, APAC gold strategist at State Street Global Advisors, to discuss gold’s role as a diversifier in portfolios.