Sequoia announces bolstered results

Company News

by Rachael Jones

Financial services company, Sequoia Financial Group (ASX:SEQ) reported a stellar 226 per cent jump in its attributable net profit after tax in the 2018 financial year, with its headline figure hitting $2.3 million.

The bolstered results came after the organisation with $3.5 billion in funds under advice, gained control over three entities including Morrison Securities, Interprac and My Own Super Fund. And those entities added $2.1 million to the group’s profit.

Over the financial year, Sequoia’s revenue clocked up a rise of 116 per cent, to $75.7 million.

Sequoia also declared an ordinary fully franked 0.5 cents per share dividend, for the second half of the financial year, payable on 25 October, with a record date of 11 October.

Shares in Sequoia Financial Group (ASX:SEQ) are trading up 4.48 per cent to 35 cents
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.