Wilson HTM takes equity market hit
Six months after reporting a 54 per cent lift in net profit after tax (NPAT), Wilson HTM Investment Group has taken a hit due to market volatility, reporting a 29 per cent decrease in NPAT from its 2007 full year results.
The company reported a NPAT for the full year to June 30, 2008, of $12 million, which is comparable to the guidance it gave in April of an expected 30 per cent decline.
In a statement to the Australian Securities Exchange, Wilson HTM said performance fees and principal investments had been impacted by the volatility and weakness experienced in the equity markets during the second half of the financial year.
Similar to what was reported in its half yearly result, the company’s capital markets division made a significant contribution to the overall result, with revenues up 7 per cent to $88 million.
In terms of an outlook, Wilson HTM said it remained cautious regarding markets and therefore felt it would be inappropriate to provide guidance for the year ahead.
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