Plan B confirms profit forecast
Publicly-listed financial planning dealer group Plan B has confirmed its profit forecast after announcing to the Australian Securities Exchange today that funds under management or advice (FUMA) had risen by 5.9 per cent in the closing quarter of last financial year.
The financial services group announced that FUMA stood at $1.83 billion as at June 30 — a 5.9 per cent increase over the position reported at March 31.
The company said the increase was primarily due to the general improvement in global investment markets during the quarter and continuing high client retention rates.
The company announced in late June that it expected to report a net profit after tax in the range of $2.6 million to $2.8 million.
AUTHOR
Mike Taylor
Recommended for you
In this week’s episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford discuss a busy week of announcements from ASIC, with submissions to its public and private markets paper made (mostly) public.
In this week’s episode of Relative Return Insider, AMP chief economist Shane Oliver joins the show to unpack Australia’s underwhelming March quarter GDP figures and what they signal for the Reserve Bank’s next move.
The latest episode of Relative Return sees host Laura Dew chat with Brian Jones, founder of outsourcing company VA Platinum, on why choosing to outsource certain functions of your business can enable you to be efficient and productive.
In this episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford are joined by Money Management editor Laura Dew to discuss learnings from JP Morgan’s recent conference in London, and what top fund managers and analysts see driving market behaviour.
