Investment manager Perpetual Limited (ASX:PPT) expects to boosts its profits by up to 36% this financial year, as the market recovers and investor confidence improves.
Speaking at the annual investor meeting, chairman Robert Savage told investors Perpetual expects to post an underlying profit after tax of between $30-40 million in the first six months of FY10, and between $40-50 million for the remainder.
Last year the company recorded underlying profit of $41.6 million in the first half and $24.1 million in the second.
But he warned that Perpetual will continue to be cautious, and is making no assumptions about how long the trend of market recovery will last.
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