Centrepoint Alliance posts strong result
Independent publicly-listed financial services group, Centrepoint Alliance Limited, has posted a strong full-year result, with net profit before tax up 79 per cent to $4.6 million on the back of increased planner numbers and increased funds under management (FUM).
The result saw the board announcing a final dividend of 1.2 cents per share fully franked to be paid on 19 October 2016.
Commenting on the result, Centrepoint Alliance managing director, John de Zwart, emphasised the company's strategy.
"In the past financial year, we have recruited 59 new professional wealth advice firms," he said.
"It is evident the strategy to create a truly differentiated financial advice business in a rapidly evolving sector is leading to solid growth in an exciting market."
He also noted that Centrepoint's lending business contributed a 22 per cent increase in profit before tax to $2.5 million, driven by improved efficiencies in a challenging market.
de Zwart said the company's goal was to be the most trusted and respected financial services business in Australia.
"Driven by several years of investment in our team, technology and client solutions in both the wealth and lending businesses, we have developed an innovative range of
solutions to help non-institutional advisers and brokers thrive. As a result, we are seeing long-term, sustainable growth," he said.
Recommended for you
Financial Services Minister, Stephen Jones, will keynote Momentum Media’s Election 2025 event.
Rising bearishness among investors has led to a retreat into defensive assets, according to the latest quarterly manager and intelligence trends report from Bfinance.
Cbus Super, the superannuation fund for blue-collar workers, has announced it paid out almost $300m in insurance claims over the last financial year, a rise of $40m from the year before.
The $700 million not-for-profit fund Lutheran Super has announced it is to merge into Mercer Super, with the transfer set to take place in the fourth quarter this year.
