CANBERA (dpa-AFX) - Perpetual Limited (PVQ.F), a financial services company, reported a sharp increase in profit for the first half, mainly driven by lower expenses, and the absence of impairment losses recorded in the prior year period.
Net profit before tax rose to A$69.7 million from A$34.7 million a year earlier.
Expenses declined to A$607.2 million from A$634.3 million, while no impairment losses were recorded during the period, compared with A$25.5 million a year earlier.
Net profit after tax climbed to A$53.9 million or 46.5 cents per share from A$12 million or 10.6 cents per share in the previous year.
Excluding one-time items, underlying profit after tax was A$112.7 million, up from A$110.5 million last year.
Revenue edged up to A$704.1 million from A$693 million.
The company declared an interim dividend of A$0.59 per share payable on April 7.
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