BT Investment Management (BTIM) has reported a strong half-year result, with cash net profit tax rising 73 per cent to $34.2 million over the same period last year, with statutory net profit after tax increasing by 104 per cent.
In an announcement released to the Australian Securities Exchange (ASX) today, BTIM chief executive Emilio Gonzalez described the result as "exceptional" and the product of robust performance across the business, supported by improved market conditions.
"Our strategy of expanding our investment capabilities, delivering on fund performance and continued investment in our business to provide growth and diversification has underpinned the increased profit, and positions us well as investor sentiment and markets improve," he said.
The BTIM board declared a fully franked interim dividend of 8 cents per share — a 45 per cent increase over the same period last year.
The BTIM results announcement reinforced the value of its acquisition of J O Hambro Capital Management, which it said had attracted net inflows of $900 million while Australian fixed income products had experienced positive inflows of $700 million.
Gonzalez said it was pleasing to see the company's business strategy playing out in the form of a significant increase in profit.
"Despite tough market conditions over recent years, we have remained focused on expanding our business offshore through the J O Hambro acquisition and building our domestic business into new areas for future growth," he said.
Gonzalez said the company's broader product offering had enable it to explore new channels and that it was expanding its marketing efforts to tap into the self-managed superannuation fund (SMSF) market.
