Perpetual

Perpetual has announced a profit downgrade and restructuring that will slash costs in an attempt to ‘simplify, refocus and grow’ the company. The cuts are well overdue, as the company’s profit margins compare poorly with those of rival Platinum Asset Management, for example. Management expects to reduce costs by $50m per year by 2015 (18% of the current cost base), including $0.5m in annual non-executive director fees. Underlying net profit for 2012 is expected to fall to $63-$67m, down from $73m in 2011. Reported net profit will slump to $22-$29m due to write-offs and other restructuring costs. The final...

Perpetual has announced a profit downgrade and restructuring that will slash costs in an attempt to ‘simplify, refocus and grow’ the company. The cuts are well overdue, as the company’s profit margins compare poorly with those of rival Platinum Asset Management, for example. Management expects to reduce costs by $50m per year by 2015 (18% of the current cost base), including $0.5m in annual non-executive director fees.

{{content.question}}

Mastercard

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access

Mastercard

Updating information

Please wait ...

Trial

Mastercard
{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership

Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles