Equity Trustees Reports Strong Earnings Growth

Equity Trustees, under ASX: EQT, showcased robust financial performance with revenue reaching AU$83.9 million, up 37% from the prior year. Funds under management, administration, and supervision rose to AU$183.5 billion, marking an 18% increase. Despite higher expenses attributed to employment vacancies and technology integration costs, underlying net profit surged to AU$17.9 million, a 25% rise from the previous corresponding period (PCP).

The company declared a dividend increase to 51 cents per share, reflecting strong cash flow. Managing Director Mick O'Brien emphasized the successful integration of Australian Executor Trustees (AET) and highlighted the positive outlook, driven by industry trends and ongoing transformation efforts. Both Corporate & Superannuation Trustee Services (CSTS) and Trustee & Wealth Services (TWS) reported substantial revenue growth, underscoring the company's diversified and resilient business model.

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