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Australia's Platinum Asset Management HY profit dives, trims dividend

Published 21/02/2019, 04:41 pm
© Reuters.  Australia's Platinum Asset Management HY profit dives, trims dividend
PTM
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Feb 21 (Reuters) - Australian fund manager Platinum Asset Management Ltd PTM.AX reported on Thursday a 27 percent plunge in its half-year interim net profit and trimmed dividend as a global equity rout in late-2018 prompted a loss on its seed investments.

Net profit came in at A$74.9 million ($53.28 million) for the six months ended Dec. 31, compared with A$102.2 million a year ago.

The company declared an interim dividend of 13 cents per share, down from 16 cents last year.

($1 = 1.4059 Australian dollars)

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