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

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.