Pinnacle's FY19 net profit up 32%

Company News

by Anna Napoli

Pinnacle Investment Management (ASX:PNI) has today announced net profit after tax (NPAT) from continuing operations attributable to shareholders of $30.5 million, up 32.0 per cent from $23.1 million in FY18.

Funds under management (FUM) increased by 42.9 per cent to $54.3 billion.

Basic earnings per share (EPS) from continuing operations rose 28 per cent to 18.3 cents, up from 14.3 cents in FY18

Pinnacle says FY19 shareholders will benefit from 15.4 cents of fully franked ordinary dividends per share, compared to 3.3 cents of fully franked ordinary dividends per share in FY16.

Shares in PInnacle Investment Management Group (ASX:PNI) are trading 4.1 per cent higher at $4.03.