Following a review of its assets, Perpetual Ltd (ASX:PPT) says it expects to report a flat first-half net profit.
The wealth manager now expects to deliver a net profit of $35 million for the six months to 31 December 2010, under the $36.4 million recorded the same time a year earlier.
Perpetual says a series of one-offs and a $10.6 million write-down of goodwill on it smartsuper business have lowered the anticipated half year earnings.
In the same period, underlying profit after tax is expected to come in at $41 million, above the company’s forecast range of between $35 million to $40 million.
Perpetual says it intends to exclude the impact of the goodwill impairment charge when determining the interim dividend.
For the year ended 30 June 2010, Perpetual posted a net profit of $90.7 million.
