Fiducian profit up, looking to SMSF market for growth
Fiducian has reported consolidated profit after tax of $4.11 million to June 30, 2010, up 25 per cent from last financial year.
Assets under management rose by 16.3 per cent to $1.14 billion, compared to the 21.4 per cent drop in the 2008-09 financial year. Fiducian has declared a fully franked final dividend of 4.75 cents per share, payable on September 15, 2010, which will bring the total fully franked dividend to 8.50 cents per share.
The group noted its Fiducian India Fund has delivered 21.4 per cent per annum over two years, outperforming most asset classes and continuing to attract inflows from investors that recognize opportunities in emerging markets.
Fiducian’s board stated it was confident about the profitability and prospects of the company as it remains debt-free and exhibits a positive working capital and cash flow position.
Fiducian stated it would continue to consider acquisitions, which would easily be absorbed into its company culture, while it would continue to leverage off its Fiducian Business Services business, which is creating a new source of revenue and “raising considerable interest in Fiducian from many regional accounting practices,” it stated.
“The business plan for 2011 financial year looks at expanding the revenue base by further utilizing all segments of the Fiducian business model and expanding its resourcing for services to the self managed superannuation fund and accounting community,” said managing director, Indy Singh.
AUTHOR
Caroline Munro
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