Treasury Group faces reduced profit
Treasury Group has forecast mark to market losses in the order of $1.47 million and has predicted a net profit after tax before those losses of between $4.15 million and $4.65 million.
The financial services group told the Australian Securities Exchange today that its total funds under management as at December 31 had declined by 14.5 per cent to stand at $10.35 billion.
The company said it was committed to paying an interim dividend but that it would not be following its usual policy of paying 50 per cent of the previous year’s dividend in light of the fall in profits.
The directors said, however, that the company’s balance sheet remained debt free and this had created the opportunity in the current market to explore further business opportunities.
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.
