Perpetual Private helps drive growth
Perpetual Limited has announced a strong full-year result with statutory net profit after tax up four per cent to $137.3 million on the back of revenue of $515.4 million with a solid contribution from Perpetual Private.
The result has seen the Directors announce a final dividend of 135 cents per share fully franked.
Perpetual Private’s profit before tax was up 18 per cent to $40.5 million which the company said was driven by new client growth in target segments as well as higher non-market related revenue and higher equity markets.
It said Perpetual Private’s targeted client segmentation strategy had now delivered eight consecutive halves of net new client growth.
Commenting on the result, Perpetual chief executive, Geoff Lloyd described the company as a strong business which was delivering results while also being positioned for the future through its Lead and Grow strategy.
Dealing with Perpetual Private, he said the initiative to expand Fordham had seen an increased presence up the eastern seaboard – something which had delivered significant revenue growth.
“Fordham is now a leading referrer of Perpetual Private’s strategic financial advice services,” he said. “Additionally, our medical and education and advice business, the Private Practice, is reaching a wide audience of medical professionals and attracted 70 new medical specialist clients during the year.”
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