Fiducian posts 17% increase in NPAT

Vertically-integrated financial services group, Fiducian has reported a strong half-year result with net profit after tax up 17% to $6,710,000 off the back of a 20% increase in operating revenue of 20% to $33,991,000.

The board declared a dividend of 14,80 cents per share fully-franked.

Fiducian executive chairman, Indy Singh said the financial result once again demonstrated the resilience of the business and its ability to manage the uncertainties of COVID-19 through disciplined execution of its business plans.

The company said that despite the COVID-19 restrictions, lockdowns and the challenges of working from home, funds under at advice as at 31 December 2021 had increased by 8.4% to $3.98 billion.

“This increase is attributable to the strong relationship between our financial planners and their clients which is founded on quality advice and strategy delivered efficiently and fairly,” it said.

“In addition, we have positioned ourselves for further success when the economy rebounds with our recently announced acquisition of People’s Choice Credit Union predominantly in South Australia for $13.2 million which will take effect from 1 February.