Fiducian's stronger half
Diversified financial services group Fiducian Portfolio Services has regained momentum following a challenging first half of 2009 to report a half-year profit of $1.850 million, down 8 per cent on the previous corresponding period but up 45 per cent over the previous half.
Fiducian managing director Indy Singh attributed the result to prudent management of overheads and staff and a debt-free balance sheet.
He said the group had not needed to resort to redundancies.
“We have not experienced the large outflows common to many in the industry as our investors seem reassured by Fiducian’s long-term approach to financial planning and selection of high quality, well-diversified investments, which have also contributed to this stability,” he said.
The stronger result has seen the Fiducian directors declare a fully franked interim dividend of 3.75 cents per share.
AUTHOR
Mike Taylor
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