Perpetual Private helps drive growth

Perpetual/profits/funds/financial-planning/

24 August 2017
| By Mike |
image
image
expand image

Perpetual Limited has announced a strong full-year result with statutory net profit after tax up four per cent to $137.3 million on the back of revenue of $515.4 million with a solid contribution from Perpetual Private.

The result has seen the Directors announce a final dividend of 135 cents per share fully franked.

Perpetual Private’s profit before tax was up 18 per cent to $40.5 million which the company said was driven by new client growth in target segments as well as higher non-market related revenue and higher equity markets.

It said Perpetual Private’s targeted client segmentation strategy had now delivered eight consecutive halves of net new client growth.

Commenting on the result, Perpetual chief executive, Geoff Lloyd described the company as a strong business which was delivering results while also being positioned for the future through its Lead and Grow strategy.

Dealing with Perpetual Private, he said the initiative to expand Fordham had seen an increased presence up the eastern seaboard – something which had delivered significant revenue growth.

“Fordham is now a leading referrer of Perpetual Private’s strategic financial advice services,” he said. “Additionally, our medical and education and advice business, the Private Practice, is reaching a wide audience of medical professionals and attracted 70 new medical specialist clients during the year.”

 

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?...

2 months 2 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 3 weeks ago

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

4 months 3 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 1 day ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

2 weeks 5 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND