Perpetual FY profit soars

Group's earnings buoyed by transformation strategy, flags ongoing volatility.

Perpetual's (PPT) full-year profit has been boosted by the first year of realised costs under its Transformation 2015 strategy, but the group says there is a considerable amount of work to be done if it is realise its potential in the market.

In the year to June 30, Perpetual's net profit was $61 million, a 128% increase on the $26.7 million recorded in the previous year.

Underlying profit came in at $76.3 million, in line with analyst estimates.

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