IOOF reports strong half-year result
Ron Dewhurst
IOOF Holdings has reported a 38 per cent increase in net profit to $14.1 million for the half-year ended December 31, 2006.
The company announced today that cash earnings had grown by 33 per cent to $27.1 million, with funds under management and administration increasing by eight per cent to $30.8 billion.
IOOF chief executive Ron Dewhurst said the result was pleasing and indicated the group’s strategy was delivering good results.
Perennial Investments Partners made a significant contribution to the group with funds under management increasing from $15.4 billion to $16.7 billion while retail funds under management increased by 7 per cent to $14.1 billion.
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