Strong result but Wilson HTM declines to forecast
Publicly-listed financial services group, Wilson HTM has reported a 54 per cent lift in net profit after tax to $9.2 million for the six months to December 31.
However, the results, released on the Australian Securities Exchange, revealed that the big contributor to the profit was the group’s capital markets division, which contributed 62 per cent of the group’s net result off the back of an increase in net profit before tax of 157 per cent to $7.9 million.
This compared to the group’s investment management business, which reported a 23 per cent decline in net profit before tax of $4.5 million, albeit that revenues in the division were up 16 per cent to $22.1 million.
The company said that investment management advisory and other revenues were up 51 per cent to $19.5 million with funds under management growing 76 per cent to $6.5 billion with the group’s Pinnacle business growing FUM from $1.7 billion to $4.2 billion for the period.
Notwithstanding the good result, the company declined to issue an earnings forecast claiming that there was “insufficient certainty upon which to base such a prediction”.
However, the group’s executive chairman, Steven Wilson, said he was confident in the company’s business model and, in particular, its strategy to grow its niche mid market capital markets business and funds under management.
AUTHOR
Mike Taylor
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