Australia's Netwealth Group hits 3-year high on strong HY results

Netwealth

20/02/2024 01:11

** Shares of Netwealth Group  NWL.AX  rise as much as 3.8%
to A$18.270, highest since Feb. 16, 2021
    ** Financial services firm posts HY net profit attributable
of A$39.3 mln ($25.66 mln), up 28.3% to pcp; declares interim
dividend of 14 AU cents per share
    ** Citi says NPAT beats Citi estimates as well as visible
alpha consensus
    ** Funds under administration of A$78.0 billion at Dec 31, 
2023 represents 24.9% growth from Dec 31, 2022
    ** Stock set for best day since Dec. 14 - if current trends
hold
    ** Stock had risen more than 14.4% this year, as of last
close

($1 = 1.5316 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))