Pendal posts solid half-year results


Pendal posted strong earnings for the six-month period, realizing an 8% increase in net profit after tax and a 34% increase in underlying earnings per share to 34.3 cents per share.

Pendal’s strong half-year results follow the rejection of Perpetual’s acquisition offer in April.

Announcing its half-year results on the Australian Securities Exchange (ASX), Pendal issued an interim dividend of 21 cents per share and a 31% increase in revenue to $362.6 million from the same period ago. one year old.

The results were supported by a full six-month contribution from US investment manager Thompson, Siegel & Walmsley (TSW) which was acquired by Pendal in the second half of fiscal 2021.

Pendal Group Chief Executive Nick Good said: “Pendal Group delivered a strong first half result in a challenging environment for asset managers. We achieved healthy growth in revenue, underlying earnings per share, underlying earnings after tax and interim dividend.

“While continuing to invest in our business, we took a more disciplined approach during the period, in response to the current market environment and tempered investor confidence.”

Good said Pendal’s strategic initiatives are progressing well.

“Our targeted set of strategic initiatives are designed to enhance our existing global distribution footprint and expand product diversification into areas of growth, such as impact and thematic investing.”

“We remain focused on executing our multi-year growth strategy and believe it is prudent to continue to take an agile approach to managing costs in the current environment of geopolitical uncertainty and economic pressures.”

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