Fiducian Group has defied the Royal Commission and market challenges which have impacted other financial services groups to post a 15 per cent increase in statutory net profit after tax to $5.004 million for the half-year ended 31 December.
At the same time the company signalled no slackening in growth plans, with Fiducian telling the Australian Securities Exchange that the Board’s policy to build through structural growth by offering client administration services, sale of financial planning software and Fiducian Funds to external markets and as well through acquisition of financial planning portfolios was fully embraced by management.
It said the results were gradually showing and that through all the recent short-term turmoil the group had continued on growth and expansion plans and delivered a solid increase in earnings.
Looking at the current environment in Australia, the Fiducian announcement pointed to recent market volatility and said that while it believed the markets reactions to events had been overdone it believed such volatility would become the norm rather than the exception.
The company declared an interim fully franked dividend of 11 cents per share.