IOOF Holdings underlying net profit +13% | Finance News Network

IOOF Holdings underlying net profit +13%

Company News

by Anna Napoli

Financial services company, IOOF Holdings (ASX:IFL) has announced its underlying net profit (UNPAT) increased by 13 per cent to $191.4 million when compared to the prior year.

Revenue from shareholder activities was up 1 per cent $919 million.

Net inflows increased by 28 per cent on financial year 17 to $5.8 billion.

The company announced a final fully franked dividend of 27 cents per share.

During the current year average funds under management were $118.9 billion an increase of 8.6 per cent on the prior year. 

The company says it has been a very solid year for IOOF with each of its businesses seeing accelerating growth in profitability, the company is well placed for the future with the acquisition of ANZ Wealth Management.

Shares in IOOF Holdings (ASX:IFL) are trading 1.44 per cent higher to $9.14 following the results

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.