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Australian Ethical

  •   26 August 2020
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Australian Ethical announces record profit of $9.5m, up 46%, delivering sustainability and outperformance

26 August 2020: Financial results for year ended 30 June 2020 (Comparisons are with financial year ended 30 June 2019)

Financial highlights

  • Net profit after tax attributable to shareholders of $9.5 million (up 46%)
  • Underlying profit after tax (UPAT) of $9.3 million (up 42%)
  • Revenues of $49.9 million (up 22%)
  • Performance fee of $3.6 million from outperformance of Emerging Companies Fund, up 350% from FY19’s performance fee of $0.8 million
  • Excluding the impact of the performance fee, revenue and UPAT both increased by 15%
  • Operating expenses of $37.0 million (up 16%)
  • Final ordinary dividend of 2.5 cents per share, fully franked; special performance fee dividend of 1.0 cent per share, fully franked; total dividend for year of 6 cents (up 20%)
  • Strong balance sheet, no gearing

Operating highlights

  • Group funds under management (FUM) of $4.05 billion (up 19%)
  • Net inflows of $660 million (up 100%)
  • Customer numbers up 20%
  • Excellent performance across most funds in the investment portfolio with multiple industry awards and high industry ranking
  • Net promoter scores: +63 (super) and +58 (managed funds) among the best in the industry1
  • Top quartile staff engagement score of 86%2
  • Record amount of $1.3 million provisioned for donation to The Australian Ethical Foundation
  • Strong operating cash flow

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