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Magellan Financial Group Ltd ( (AU:MFG) ) has provided an update.
Magellan Financial Group Ltd has released its interim report for the half year ended 31 December 2024, showing a 5% increase in total revenue to $178.6 million. However, the company experienced a 10% decline in net profit after tax to $94 million, affected by non-recurring, non-cash, or unrealized items. Adjusted net profit after tax also saw a 10% decrease to $84 million. Despite these challenges, the company’s net tangible assets per share improved to $5.17 from $4.59 a year prior. The interim dividend was set at 26.4 cents per share, down from 29.4 cents in the previous period, as the company navigates strategic and financial adjustments.
More about Magellan Financial Group Ltd
Magellan Financial Group Ltd is a prominent player in the financial services industry, primarily focusing on investment management. The company offers a range of financial products and services, catering to both retail and institutional investors, with a market focus on delivering strong, sustainable returns.
YTD Price Performance: -9.16%
Average Trading Volume: 835
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €1.08B
See more insights into MFG stock on TipRanks’ Stock Analysis page.
