Fiducian in the black despite profit fall
Fiducian Portfolio Services has reported a profit of $3.3 million for its 2008-09 financial year results, despite a fall in operating revenue of 23 per cent.
The fall in revenue was mainly the consequence of equity and property market devaluations over the financial year.
Fiducian's profit dropped by nearly half compared to the previous financial year, falling from $6.2 million in 2007-08. Platform funds under administration fell by 21.4 per cent to $984 million as a result of equity market falls. Operating costs increased by 1.4 per cent over the same period.
Fiducian's net cash flow fell to $3.18 million, compared to $6 million in the 2007-08 financial year.
Managing director Indy Singh said Fiducian expected its funds under management and administration to grow and the economic outlook to improve.
Recommended for you
In this episode of Relative Return Insider, host Keith Ford and AMP economist My Bui explore Prime Minister Anthony Albanese’s trip to the US and the critical minerals deal stemming from his meeting with President Donald Trump.
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver unpack the latest unemployment numbers and what they mean for a rate cut, as well as how the latest flare-up in the ongoing US–China trade dispute has highlighted the remaining disparity between gold and bitcoin.
In this episode of Relative Return Insider, host Keith Ford and AMP chief economist Shane Oliver take a look at the unfolding impacts and potential economic ramifications of the US government shutdown and the surge in gold and bitcoin prices.
In the latest episode of Relative Return Insider, host Keith Ford and AMP chief economist, Dr Shane Oliver, discuss this week’s RBA interest rate decision, a potential government shutdown in the US, and a new property scheme aimed at first home buyers.
