Managed Accounts Holdings posts $1.47m NPBT

From

Heather David

Managed Accounts Holdings Limited (managedacaccounts.com.au, ASX:MGP), one of Australia’s leading managed discretionary account (MDA) providers, has posted a normalised net profit before tax of approx. $1.47 million for the year to 30 June 2017.

Highlights for the 2017 financial year announced to the market include:

  • 19.8% increase in normalised net profit before tax to approx. $1.47 million
  • Funds under administration increased to over $2.1Billion – growth of 17.4%
  • Company revenue up 25% over 2016/17
  • Reinvestment into Distribution resources
  • ASX Sponsorship and Settlement approval received
  • Enhanced cash solution implemented

The result reflects continued recognition of the benefits of Managed Discretionary Accounts (MDAs) by independent financial advisers (IFAs), stockbrokers and investment managers and the group’s continued re-investment into new services and capabilities to meet current and future MDA user requirements, according to Chief Executive Officer, David Heather.

“We are very pleased with the latest results and remain firmly focused on delivering greater choice, transparency and functionality for the IFAs, stockbrokers and investment managers using or intending to use our broadening capability,” Mr Heather said.

“We are positioning our business for further growth by investing in new software that will transform the user experience for both advisers and clients, as well as provide additional scale and efficiencies in the MGP operational environment.”

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