Perpetual posts strong half

australian-securities-exchange/trust-company/chief-executive/

26 February 2015
| By Mike |
image
image
expand image

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.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 6 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 5 days ago

TOP PERFORMING FUNDS