The latest update is out from Platinum Asset Management Ltd ( (AU:PTM) ).
Platinum Asset Management Limited reported a significant decline in its financial performance for the half-year ended 31 December 2024, with total revenue and other income dropping by 23% and profit from ordinary activities after income tax falling by 55% compared to the previous year. The decrease in profitability was largely due to a reduction in management fees, driven by a 15% decrease in funds under management (FUM) to $11.1 billion, attributed to net outflows and lower average FUM. Despite positive investment returns, the company’s operating profit was impacted, highlighting challenges in maintaining fee revenue amidst fluctuating market conditions.
More about Platinum Asset Management Ltd
Platinum Asset Management Limited is a company in the financial services industry, primarily focusing on asset management. The company is listed on the Australian Securities Exchange (ASX) under the code PTM and manages funds for investors, with a significant focus on delivering positive investment returns.
YTD Price Performance: 9.90%
Average Trading Volume: 17,303
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: €262.5M
For a thorough assessment of PTM stock, go to TipRanks’ Stock Analysis page.