Equity Trustees warns on profit
Equity Trustees has issued a warning of a profit downgrade for the half-year ended December 31, 2009.
The company told the Australian Securities Exchange (ASX) today that it expected profit to be in the order of 20 per cent below the prior comparative figure.
It said although there had been a recent partial recovery in investment markets, asset values in the first quarter were well below the corresponding prior year.
However, it said on the assumption that investment markets continued at or around present levels, it was expected that the second half would outperform the first half.
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Mike Taylor
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