Perpetual in net profit hike
Perpetual Trustees has announced their profit figures for the year to June 30 with a net profit of $30.7 million, up over 22 per cent.
The biggest area for growth was Perpetual Superannuation which saw revenue grow by 155 per cent to $9.7 million, much of that on the back of the Wilson Dilworth acquisition.
Perpetual Trustees has announced their profit figures for the year to June 30 with a net profit of $30.7 million, up over 22 per cent.
The biggest area for growth was Perpetual Superannuation which saw revenue grow by 155 per cent to $9.7 million, much of that on the back of the Wilson Dilworth acquisition.
The alliance with Fidelity was also strengthened with Fidelity Per-petual funds under management doubling to more than $700 million from $300 million a year ago.
Perpetual chairman John Lamble says the group had changed substan-tially over the past year.
"Perpetual is now a much larger business than it was a year ago and our expanded scope of operation augers well for the future, despite some loss in profit caused by the Managed Investment Act (MIA)," Lam-ble says.
"We are budgeting for an overall increase in profit for the current financial year, albeit at a lower rate than recent years."
Managing director Graham Bradley says the drop off will come as a re-sult of increased spending in technology and the MIA.
"Our estimate is that within two years we expect to be earning $25 million less than before the act came in," Bradley says.
However Bradley is confident Perpetual has a stable platform to in-crease revenue on a number of fronts and says other businesses will be generated to meet the short fall though these will not have the same profitability initially.
Recommended for you
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford take a look at the Reserve Bank’s expectation-defying interest rate hold and whether the move is the start of a fundamental change in the central bank’s approach.
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford break down the flurry of activity and announcements since the calendar ticked over to FY26, from ASIC action to super fund results.
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to explore the major global and domestic forces shaping investment markets in 2025, from ongoing geopolitical tensions and the NATO summit to US President Donald Trump’s trade policy and the One Big Beautiful Bill.
In this week’s episode of Relative Return Insider, Professor Robert Brooks of Monash Business School joins the show to unpack the economic and market implications of rising tensions between Israel and Iran.