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Showing 591 - 600 of 6744 results for "Profit"

Challenger Life books record annuity sales

KARREN VERGARA  |  TUESDAY, 15 AUG 2023
... the funds management unit, assets under management dipped 9% to $95 billion. Overall, the group reported statutory net profit after tax of $288 million, which grew 13% year on year, and paid a 24 cent per share dividend, up 4% on last year.

Fiducian eyes IFAs, South Australia for inflows

KARREN VERGARA  |  MONDAY, 14 AUG 2023
... and administration (FUMAA) by 13% to $12.3 billion. While revenues rose 8% to $73.3 million in the period, underlying net profit after tax trended down 4% to $15.1 million. Statutory NPAT was also down 7% year on year to $12.3 million. "Our focus will ...

High rates impacting REITs: Quay

CHLOE WALKER  |  FRIDAY, 11 AUG 2023
Expectations of a global recession caused by an unprecedented interest rate increase has seen sentiment towards listed global real estate soar, according to Quay Global Investors (Quay) principal and portfolio manager Justin Blaess. While the listed ...

AMP provisions $50m in response to class action

ANDREW MCKEAN  |  THURSDAY, 10 AUG 2023
... respectively. The announcement came after AMP unveiled its 1H23 results, whereby the company reported an underlying Net Profit After Tax (NPAT) of $112 million, closely mirroring its 1H22 performance. AMP posted a statutory NPAT of $261 million for 1H23 ...

Former advisers costs CBA $1.2bn in remediation

KARREN VERGARA  |  WEDNESDAY, 9 AUG 2023
... Commonwealth Bank's $1.2 billion bad advice remediation bill represented a small fraction of its whopping $10.2 billion profit, the full-year financial results show. The total customer remediation amounted to a huge $2.6 billion in the 2023 financial ...

Charter Hall REIT cops $198m loss

KARREN VERGARA  |  TUESDAY, 8 AUG 2023
... materialise in the 2023 financial year results. The Charter Hall Long WALE REIT (CLW) made a whopping 122% loss after raking in a profit of $911.9 million in the prior period. The property fund manager calculated adverse net fair value movements on its ...

Pinnacle steadies FY23 profit, FUM

KARREN VERGARA  |  FRIDAY, 4 AUG 2023
... impacted management fee revenues in affiliates, relative to our initial expectations," he said. The group reported net profit after tax of $76.5 million, which was steady from $76.4 million in the prior year. Performance fees earned were also relatively ...

Raiz increases portfolio fees

KARREN VERGARA  |  TUESDAY, 1 AUG 2023
Micro-investing app Raiz has upped its fees on a range of its portfolios, with some increasing as much as 29%. The monthly maintenance fee for the Standard portfolios will increase from $3.50 to $4.50 for account balances of less than $20,000. For balances ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
... As an example, a farmer came to AFCA furious thinking he'd lost money, when the opposite was true. "He was making a profit. When we explained that to him the dispute disappeared," Singh said. On a brighter note, life insurance complaints trended ...

Macquarie reports decline in earnings amid weaker trading

ANDREW MCKEAN  |  THURSDAY, 27 JUL 2023
... surplus in capital, down from $12.6 billion in the prior quarter. Macquarie chair Glenn Stevens noted Macquarie's record profit of $5.2 billion was an exceptional outcome. "While last year's record result was partly generated by unusual circumstances ...