After this announcement, Perpetual (ASX: PPT) shares fell 7%.

Perpetual Limited (ASX: PPT) Stock prices at noon today fell by just over 7% to $ 31.This is a financial service provider Results for the first half of 2021..

Find out how Business and Perpetual Limited stocks have run in the last six months.

Perpetual Limited highlights for the first half of 2021

Perpetual Limited reported $ 89.2 billion in total assets under management.

Semi-annual Perpetual, which ended December 31, 2020, reported net income after tax (NPAT) of $ 29.2 million. In fact, this is a significant reduction compared to the $ 51.6 million half-year NPAT that ended December 31, 2019.

Perpetual reported a half-year after-tax profit ending December 31, 2020 of $ 52.6 million. Similarly, it was down slightly compared to $ 58.9 million for the half year ended December 31, 2019.

In contrast, operating revenue for the first half of the year was $ 280.6 million, up 10% for attending physicians. In this case, growth was driven primarily by international wealth management and completed acquisitions.

The directors have resolved to pay a full Frank interim dividend of 84 cents per share. Decreased compared to $ 1.05 per share paid during the previous comparison period (pcp).

CEO talks about performance

Regarding the six months’ performance, CEO and Managing Director Rob Adams said:

“We continue to make strong progress in implementing our strategy. Our wealth management team remains loyal to the label, delivering solid performance over this period, especially across all features, including Australian equities. The first half was booked with the completion of the strategic acquisition of Trillium and a 75% stake in Barrow Hanley. These acquisitions combined with the successful construction of the US distribution team combined with business lines, regions and assets. It will be a milestone in Perpetual’s transformation as it continues to build world-class investment and distribution capabilities to provide greater diversification by class. “

Perpetual limited stock price at a glance

Since the beginning of the year, Perpetual Limited Shares have fallen 3.68%. However, during the period, institutional investors issued shares and planned to purchase shares. Therefore, you will generate $ 270.1 million (after deduction of costs) in revenue.

Company’s Market first Is $ 1.9 billion and has 56.5 million issued shares.

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* Returns as of February 15, 2021

Motley Fool Contributor Gretchen Kennedy There are no positions in any of the listed stocks. Motley Fool Australia does not have a position in any of the listed stocks. The Motley Fool Disclosure policy.. This article contains only general investment advice (based on AFSL 400691). Approved by Bruce Jackson.

After this announcement, Perpetual (ASX: PPT) shares fell 7%.

Source link After this announcement, Perpetual (ASX: PPT) shares fell 7%.

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