Australian Ethical Investments Limited
(ASX:AEF) has revised its earning guidance for FY16 downwards based on higher expenses related to its employee share scheme.
Since May the company’s share price has risen rapidly, from $63.00 to $90.50, directly impacting the expenses related to one series of share performance rights due to vest on 30 June.
At the current share price, net profit after tax is now expected to be $3.27 million.
The company has noted the share price and expense dynamic related to this remaining series of performance rights will not affect future earnings periods.
Australian Ethical Investments reported a net profit of $1.5 million at 31 December 2015.
