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
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