Perpetual Limited share price lifts as profit and revenue up

Shares in independent and diversified financial services group Perpetual Limited (ASX: PPT) opened up 1.63% to $53.73 today on the release of the company’s half-year results.

Perpetual Limited, who offers specialised investment management wealth advice and corporate fiduciary services to individuals, financial advisors and institutions, posted a statutory NPAT increase of 3% to $68.1 million, with revenue up 6% on the previous corresponding period to $266.8 million.

Perpetual’s results positioned the company as a “diversified business with clear focus”, with an underlying NPAT reported to be up 9% on the previous corresponding period to $71.5 million, with the report citing the increase was supported by ongoing cost discipline.

Favourable market conditions helped to push the company’s Corporate Trust portfolio figures up with the balance sheet providing the company with “capacity to pursue growth opportunities”.

Perpetual announced an earnings per share up 3% to 141.5c per share and will pay out a fully-franked interim dividend of $1.35 per share to shareholders, up from $1.30 last year

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