Platinum Asset Management Ltd (AU:PTM) has released an update.
Platinum Asset Management Ltd reported a significant downturn in its 2024 financial results, with revenues dropping by 14.9% and profits after tax plummeting by 44.2%. The decrease is largely attributed to a 25.2% reduction in their Funds Under Management compared to the previous year, and a notable decline in management fees due to lower average funds under management. Despite these challenges, the company managed to reduce its adjusted expenses, reflecting cost-saving measures in employee compensation and marketing.
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