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Platinum Asset Management Ltd ( (AU:PTM) ) has shared an update.
Platinum Asset Management Limited announced corrections to its Appendix 4E Preliminary Final Report for the fiscal year ending June 30, 2025, due to typographical errors. The corrected report shows a significant decline in financial performance, with management fees falling by 28% and total revenue down by 23.8% compared to the previous year. The company’s statutory net profit after tax plummeted by 86.1%, largely due to a non-cash accounting charge related to a turnaround program. This charge also negatively impacted the effective tax rate, leading to a higher tax expense. The company’s funds under management decreased by 39%, driven by substantial net outflows, despite positive investment returns. The announcement highlights challenges in maintaining profitability amidst declining revenues and increased implementation costs.
The most recent analyst rating on (AU:PTM) stock is a Hold with a A$0.53 price target. To see the full list of analyst forecasts on Platinum Asset Management Ltd stock, see the AU:PTM Stock Forecast page.
More about Platinum Asset Management Ltd
Platinum Asset Management Limited is a company operating in the financial services industry, primarily focusing on asset management. The company manages funds and provides investment management services, with a market focus on managing funds under management (FUM).
YTD Price Performance: 19.05%
Average Trading Volume: 2,131,434
Technical Sentiment Signal: Buy
Current Market Cap: A$459.3M
Learn more about PTM stock on TipRanks’ Stock Analysis page.