Fiducian turns in strong half
Publicly-listed financial services group Fiducian Portfolio Services had turned in a strong first half, reporting a consolidated after-tax profit of $1.690 million for the six months ended 31 December, up from $1.067 in the previous period.
Commenting on the result, Fiducian managing director Indy Singh said the company had embarked on a series of cost-cutting and cost-recovery measures and these had supported the profit growth.
The directors have voted to pay an interim fully franked dividend of 3.40 cents per share.
Discussing the dynamics of the business, Singh indicated the company remained in the market for financial planning acquisitions.
"In the past year, we have acquired two client bases and allocated around $800,000 of cash — the full benefits of these acquisitions are still to be realised in the results but will occur over time," he said.
Singh said Fiducian Business Services was starting to build steady volumes through its accountancy resourcing division, with a second accounting practice having been acquired in November.
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