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Showing 611 - 620 of 6769 results for "Profit"

Westpac reports $1.8bn net profit, rise in stressed assets

ANDREW MCKEAN  |  MONDAY, 21 AUG 2023
Westpac has posted a net profit of $1.8 billion for 3Q23, driven by steady operating revenue and disciplined margin management. Despite inflationary headwinds which led to a rise in expenses by approximately 5% for the second half of 2023 compared to ...

Magellan performance halves across the board

KARREN VERGARA  |  FRIDAY, 18 AUG 2023
As Magellan Financial Group's funds under management and profit drastically decline, its investments in Barrenjoey Capital Partners and FinClear also took a toll on its 2023 financial year performance. The group's average funds under management ...

ASX profits hit by CHESS setbacks, acts on review findings

ANDREW MCKEAN  |  THURSDAY, 17 AUG 2023
The ASX reported a 37.6% plunge in statutory net profit to $317.3 million, largely weighed down by hefty CHESS replacement costs. The securities exchange finished the financial year with an underlying net profit after tax (NPAT) of $491.1 million, marking ...

Industry Fund Services enters strategic partnership

JAMIE WILLIAMSON  |  THURSDAY, 17 AUG 2023
... capabilities with BCG X's experience in developing digital businesses and B2C platforms. The two hope to form a consortium of profit-to-member super funds to develop a technology solution that is shaped by member needs and feedback, "and would focus ...

Dexus reports $752.7m loss

CASSANDRA BALDINI  |  WEDNESDAY, 16 AUG 2023
... cents per security, which represents a 3% decrease when compared to the preceding year. Dexus said the shift from FY22 profit of $1.6 billion was down to $1.18 billion of fair valuation losses incurred on its investment properties, due to a reduction ...

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 ...