Half Year 2025 Perpetual Ltd Earnings Call Transcript

Feb 26, 2025 / 12:00 AM GMT

Release Date Price: €12.6 (-8.03%)

Transcript

Key Points

Positve

Perpetual Ltd (ASX:PPT) reported a 4% increase in total operating revenue, reaching $686.2 million for the half year.
The company's underlying profit after tax rose by 2% to $100.5 million compared to the prior corresponding period.
Asset management saw a 7% growth in underlying profit before tax, supported by positive market movements and strong investment performance.
Corporate trust delivered an 8% increase in underlying profit before tax, despite a high interest rate environment.
Wealth management achieved a 12% growth in underlying profit before tax, driven by solid performance across all segments.

Negative

The statutory net profit after tax was significantly lower, down 65% to $12 million due to one-off items.
Net outflows for the half year were $3.4 billion, mainly from JR Hambro's global and international equity strategies.
The simplification program's cost has increased significantly, with expected annualized expense savings now set at $70 to $80 million.
The gearing ratio is slightly above the internal target at 32%, with plans to reduce it below 30% in the near term.
There are ongoing concerns about the high level of one-off costs, with significant items impacting the financial results.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PPT.AX - Perpetual Ltd
Half Year 2025 Perpetual Ltd Earnings Call
Feb 27, 2025 / 12:00AM GMT

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Presentation
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And you'll be automated message will advise that your hand is raised.

Please be advised that today's conference is being recorded.

I would now like to hand the call over to your host today, Ms. Susie Reinhart.

Thank you.

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