Netwealth posts strong full-year result
Fast-growing recently publicly-listed platform provider Netwealth has rewarded investors with a full-year result well ahead of its prospectus forecast, returning a net profit after tax of $29 million.
The result was 6.3 per cent up on the prospectus forecast and saw the directors deliver a fully-franked dividend of 5.38 cents per share fully franked.
Commenting on the result, Netwealth managing director, Michael Heine said it reflected the success of the company’s strategy of remaining focused on being the leading platform provider for advisers and clients.
He said the Australian wealth management market was experiencing significant structural change and that many of these changes were benefiting Netwealth.
Heine said he believed the structural changes would continue to accelerate as many institutions reviewed their wealth management businesses and advisers demanded greater flexibility in their choice of platform.
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