Equity Trustees profit down 19.1 per cent
Equity Trustees has continued to struggle in the tough market conditions, recording a 19.1 per cent decline in net profit after tax of $4.1 million for the six months to December 31 last year.
The diversified financial services house told the Australian Securities Exchange today that the decrease in profitability had occurred due to the continuing reduction in worldwide investment values and general slowdown in business activity.
However, it claimed the operating business of Equity Trustees had continued to perform well due to an absence of debt, four strong business units in key markets and careful management of expenses.
The ASX announcement said it was anticipated that the interim fully franked dividend would be maintained at 50 cents per share, something which would be confirmed later this month.
AUTHOR
Mike Taylor
Recommended for you
In this episode of Relative Return Insider, host Keith Ford is joined by Accountants Daily journalist Imogen Wilson to take a look at why there has been such broad support for a more comprehensive tax reform discussion at the Treasurer’s economic roundtable.
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to discuss Australia’s stagnating productivity ahead of the government’s economic reform roundtable, and how picking all the “low-hanging fruit” for reform in the ’90s helped kick off a surge that has since stalled out.
In this episode of Relative Return Insider, host Keith Ford is joined by Cyber Daily deputy editor David Hollingworth to take you inside the evolving landscape of cyber crime, how even huge companies can be at risk of breaches, and what that means for anyone trying to understand the risks.
The latest episode of Relative Return sees host Laura Dew chat with Richard Ivers and Mike Younger, co-portfolio managers at Prime Value Asset Management, on their newly launched Microcap Fund and opportunities in small and mid-cap shares.
