Perpetual reports steady results
Perpetual has reported a three per cent growth in net profit after tax (NPAT) to $68.1 million on 1H17, thanks to its continued diversification strategy across its Perpetual Private, Investments and Corporate Trust businesses.
According to the firm, the group’s profitability over the six months was driven mostly by Perpetual Corporate Trust, which saw an 18 per cent growth in NPAT, and Perpetual Private with a 24 per cent growth in NPAT and which was also helped by its segmented high net worth strategy targeting medical specialists, professionals and high net worth individuals.
Additionally, Perpetual Corporate Trust experienced strong revenue growth in both the debt markets services and managed fund services businesses.
At the same time, the NPAT of Perpetual Investment was one per cent down, the group said.
The board declared a pay of fully franked interim dividend of 135 cents per share, up four per cent on 1H17.
Perpetual’s chief executive and managing director, Geoff Lloyd said: “We are pleased to have delivered another solid result, particularly at this time when consistency and returns are highly valued by shareholders and clients alike.”
“Across Perpetual Investments, Perpetual Corporate Trust and Perpetual Private our clients have continued to benefit from the focus and commitment of our team who diligently ensure clients’ interests are served now and in the future.”
AUTHOR
Oksana Patron
Recommended for you
Adviser losses this week are quadruple the same period a year ago, with the industry falling into negative territory for the last 12 months.
Colonial First State has announced the latest manager to join its Edge managed accounts menu, focusing on providing investors with a strategic income.
Rising advice fees has prompted Radar Results to increase its price guide to a minimum of $3,000 per client to reflect the changing shape of the adviser landscape.
Investment consultancy Ascalon Capital has appointed a new partner, who joins from 20 years at Zenith Investment Partners, as well as a new chief executive amid a “bold new chapter” for the firm.
