Perpetual Limited (ASX:PPT) Announces Half Year Financial Results
Financial Performance
Perpetual Limited reported a 4% increase from pcp in operating revenue to $686.2 million for the six months ended 31 December 2024. Underlying profit after tax (UPAT) rose by 2% to $100.5 million, while net profit after tax (NPAT) decreased by 65% to $12.0 million. Revenue growth was driven by Asset Management, Wealth Management, and Corporate Trust, offset by higher expenses.
Strategic Review
The Board concluded a Strategic Review, deciding against a proposed A$2.175 billion deal with KKR to sell Corporate Trust and Wealth Management businesses. Instead, Perpetual Limited will retain its Corporate Trust and Asset Management divisions and pursue the sale of its Wealth Management business.
Shareholder Returns
Perpetual Limited declared an interim dividend of 61 cents per share, representing a 70% payout ratio of 1H25 UPAT. The Dividend Reinvestment Plan will be available, issuing new shares without a discount.
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