Perpetual looks at costs in hot market
Perpetual Trustees will aim to keep a lid on costs in preparation for a possible downturn in the stock market.
Perpetual Trustees will aim to keep a lid on costs in preparation for a possible downturn in the stock market.
Managing director Graham Bradley says the company expects to continue profit growth this year but warns Perpetual was unlikely to match last year's rate of funds inflow.
"It would be unwise for us to count on replicating this level of growth two years running," he says in the annual report released today.
"Our earnings are now more directly sensitive to equity market values than in prior years, and this requires us to manage our expenses carefully and flexibly so that we can adjust quickly to any prolonged market downturn."
Bradley says the company also expects to make significant systems development expenditures over coming years to adapt platforms for the Internet.
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