Shares in Perpetual Limited (ASX:PPT) rose yesterday after the fund manager forecast a rise in underlying profit and a fall in net profit for the first half of the 2012 financial year.
First half underlying profit is expected to come in at $34.7 million, above the company’s previous guidance and market consensus.
First half net profit is expected to come in at $22.9 million, largely due to restructuring costs.
The final results and dividend announcement are expected next Thursday February 23, 2012.
Shares in Perpetual closed 7.16 per cent higher yesterday at $23.21.
In the 2011 financial year Perpetual’s net profit fell 31 per cent to $62.4 million.
