Plan B confirms profit forecast
Publicly-listed financial planning dealer group Plan B has confirmed its profit forecast after announcing to the Australian Securities Exchange today that funds under management or advice (FUMA) had risen by 5.9 per cent in the closing quarter of last financial year.
The financial services group announced that FUMA stood at $1.83 billion as at June 30 — a 5.9 per cent increase over the position reported at March 31.
The company said the increase was primarily due to the general improvement in global investment markets during the quarter and continuing high client retention rates.
The company announced in late June that it expected to report a net profit after tax in the range of $2.6 million to $2.8 million.
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