EQT Holdings delivers 28% rise in FY18 profit
EQT Holdings, the holding company for Equity Trustees, has announced a 28 per cent rise in net profit for fiscal 2018 to $19.7 million, after all areas of the business witnessed strong growth due to acquisitions, partnerships and organic growth.
The company declared a final dividend of 42 cents a share which brought full-year dividends to 82 cents, up 11 cents on fiscal 2017.
Earnings per share rose 26 per cent to 97.3 cents a share, while funds under management, advice, administration and supervision rose 21 per cent to a record $86 billion, EQT said in a statement to the Australian Securities Exchange.
EQT managing director, Mick O’ Brien, said the company was experiencing strong momentum, with revenue from Trustee and Wealth Services up 11 per cent, and revenue from Corporate Trustee and Fund Services up 10 per cent.
“This performance was also supported by a material fall in non-operating costs,” O’Brien said.
“We have generated significant growth in returns for shareholders, improved our client satisfaction results, increased our employee engagement, and provided a substantial contribution to the community through our philanthropic granting and trusted services,” he said.
“The result confirms our strategy of focussing on what we do best – providing specialist fiduciary services.”
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