Fiducian posts solid result
Publicly-listed financial services house, Fiducian Group Limited, has reported a strong full year result.
The company announced this week it had lifted its underlying net profit after tax by 22 per cent to $7 million on the back of solid inflows.
Chief financial officer, Rahul Guha, said funds under advice, management and administration increased 16 per cent to $4.7 billion while net revenue grew 27 per cent to $26 million.
The board declared a fully franked final dividend of seven cents per share.
Commenting on the result, Fiducian Group managing director, Indy Singh, said that while expenditure controls and profits remained a priority, the company would remain acquisitive.
"The Board intends to build scale and maintain its acquisition and distribution growth strategy to deliver consistent double-digit earnings growth in coming years," he said.
Recommended for you
Clime Investment Management has faced shareholder backlash around “unsatisfactory” financial results and is enacting cost reductions to return the business to profitability by Q1 2025.
Amid a growing appetite for alternatives, investment executives have shared questions advisers should consider when selecting a private markets product compared to their listed counterparts.
Chief executive Maria Lykouras is set to exit JBWere as the bank confirms it is “evolving” its operations for high-net-worth clients.
Bennelong Funds Management chief executive John Burke has told Money Management that the firm is seeking to invest in boutiques in two specific asset classes as it identifies gaps in its product range.