Solid results, increased shareholder dividend

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At a time when consistency is highly valued by both shareholders and clients, Perpetual Limited has announced a solid 1H18 financial result, including an increased dividend for shareholders.

 

      Key Numbers For 1H18

  • Shareholders receive a fully franked interim dividend of 135 cents per share, up 4% on 1H17
  • Profit Before Tax up 7% on 1H17 to $101 million
  • Net Profit After Tax up 3% on 1H17 to $68.1 million

 

Chief Executive Officer and Managing Director Geoff Lloyd said, “Over the half we have maintained our steadfast focus on protecting and growing Perpetual for our clients, our shareholders and our people."

“We now have a more diversified business which has resulted in stronger revenue and profit before tax.” 

BUSINESS UNIT OVERVIEW

Perpetual Private

Perpetual Private’s profit before tax was $23.1 million, which was 24% higher than 1H17. It was Perpetual Private’s ninth consecutive half of net client growth while Fordham’s strong growth also continued.

Perpetual Private also grew the assets under its stewardship - with a 13% increase in funds under management and 3% growth in funds under advice.

Perpetual Private is a trusted brand with a strong heritage and clients spanning multiple generations. "We will continue to execute on our strategy to find new opportunities and deliver growth for the business,” Mr Lloyd said.

 

Perpetual Corporate Trust

Perpetual Corporate Trust’s profit before tax was up 18% on 1H17 to $19.8 million, with strong revenue growth from all parts of the business.

There was a more even spread of revenue between the Debt Market Services and Managed Funds Services business units, highlighting the increasing diversity of the business.

Perpetual Corporate Trust continues to be a strong and consistent contributor to the profitability of Perpetual, and the diversification within the business is proving successful.

 

Perpetual Investments

Perpetual Investments profit before tax of $58.1 million was 1% lower than 1H18. Perpetual are long term value investors and look to provide value for our clients across a range of strategies including Australian Equities, Multi Asset, Credit and Fixed Income, and Global Equities.

"Importantly, our long term performance remains strong, and we have a strong and committed team who will continue to find value for our clients,” said Mr Lloyd.

 

Committed to providing a first-class experience

Summing up the result, Mr Lloyd said, “Across Perpetual Investments, Perpetual Corporate Trust and Perpetual Private our clients and shareholders have continued to benefit from the focus and commitment of our team.

“With our vision to be Australia’s largest and most trusted independent wealth manager, we have a business well positioned for growth with an experienced team who will continue to deliver sustainable long-term returns for shareholders.”

For more information on the Perpetual result, please visit our shareholder page.