Trust result drives dividend
By Mike Taylor
Financial services group Trust Company has announced a special dividend off the back of a 11 per cent increase in earnings to $17.6 million and a net profit after tax of $25.4 million.
The company’s result exceeded a guidance announcement it made to the market in April last year.
The company’s financial services division reported an increase in revenue of 17.5 per cent to $35.3 million, with assets under control growing by 12 per cent to $3.8 billion.
Trust managing director Jonathan Sweeney said it was pleasing to see the financial services division gather momentum from its core services such as Trust Lifestyle Care, wealth transfer planning, financial planning and philanthropy.
Sweeney said the result was also pleasing given the company’s investment in growth initiatives such as its expansion into Asia as well as additional market expertise.
He said that over the past year, the company had achieved a number of milestones including a change of registered name from Trust Company of Australia to Trust Company, reflecting its expansion into the Asian market, as well as the relocation of its Melbourne office to a more centralised location within the city.
AUTHOR
Mike Taylor
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