IOOF Net Profit of $33.2m Down 28% 1H2013

Submitted by Share Trading on 27 February, 2013 - 08:33

Financial Services company IOOF (ASX:IFL) have announced its half year financial results to its shareholders and investors on the Australian stockmarket.

  • IOOF Net Profit of $33.2 million for the half year, down 28 percent.
  • The financial result included one-off items such as the costs associated with the recent acquisition of Plan B Group Holdings and DKN.
  • IOOF Managing Director Christopher Kelaher said, "IOOF has delivered another solid underlying performance amidst an ever-changing financial and regulatory environment. Since the global financial crisis began impacting earnings for financial services businesses worldwide, IOOF has been strategically adding to its business in a way that ensures long-term grown In an environment where many of our competitors are treading water, IOOF is taking market share in our flagship platforms."
  • For the half: DKN reported a $6.2 million net profit to 31 December. Plan B posted a $1.5 million net profit.
  • IOOF pre-amortisation (Underlying Earnings): $50.9 million, pre-tax operating cash flow: $52.8 million
  • IOOF funds under management, advice, administration and supervision was $116.4 billion, up $9.1 billion.
  • IOOF declared a fully-franked interim dividend of 19.5 cents per share.

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