Perpetual posts strong half
Financial services house Perpetual Limited has moved further back into profitability, reporting a 76 per cent increase in net profit after tax to $58.5 million for the first half ended 31 December, last year.
Announcing the result to the Australian Securities Exchange today, Perpetual chief executive, Geoff Lloyd attributed the outcome to the delivery of the company's so-called "transformation strategy".
Lloyd pointed to a number of initiatives which had contributed to the company's strong result, and noted that Perpetual Private had experienced a steady and disciplined turnaround with profit before tax for the division up 16 per cent ($18.9 million) on the back of an increase in net new clients, strong revenue growth and tight cost management.
The ASX announcement referenced the success of Perpetual's acquisition of Trust Company, with Lloyd stating that the Trust Company had been an important accelerator of Perpetual Private's growth.
The directors declared a fully franked dividend of 115 cents per share — up 44 per cent.
Recommended for you
ASIC has released the results of the latest financial adviser exam, held in November 2025.
Winners have been announced for this year's ifa Excellence Awards, hosted by Money Management's sister brand ifa.
Adviser exits have reported their biggest loss since June this week, according to Padua Wealth Data, kicking off what is set to be a difficult December for the industry.
Financial advisers often find themselves taking on the dual role of adviser and business owner but a managing director has suggested this leads only to subpar outcomes.
