FUNDS manager Perpetual has reported a rise in first half profit but says it remains cautious about the immediate outlook due to difficult equity market conditions.
Net profit for the six months ended December 31 was $49.17 million, up from $14.19 million the previous corresponding period, on the back of stronger markets during the period.
Underlying net profit, before gains or losses on the sale of investments, was $36.41 million, down 13 per cent.
"While our performance and investor sentiment are improving, we remain cautious about the immediate outlook," chairman Bob Savage said.
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