BTIM announces record full-year result
BT Investment Management (BTIM) has announced a record full-year result for the year ending 30 September, with a 105 per cent increase in cash net profit after tax to $127 million.
The result has seen the directors declare a final dividend of 19 cents per share, bringing total dividends for the year to 35 cents.
Commenting on the result, BTIM chief executive, Emilio Gonzalez said it had been underpinned by exceptional fund performance, strong growth in margins and excellent fund flows.
"While standout performance fees were earned this year, I am particularly pleased with the continued growth in our funds under management and the underlying base management fee revenue, which reflects the successful execution of our growth strategy," he said.
Looking over the horizon, Gonzalez said that while the company remained confident about its ability to deliver strong returns to investors, performance fees from JO Hambro Capital Management were by their nature highly variable and were likely to be lower in the year ahead.
"We do however remain confident of achieving continued growth in our base fee revenues, subject to market movements," he said.
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